TPG Capital in talks to acquire LVMH-owned Australian bootmaker R.M. Williams

Photo: Reuters

Private equity giant TPG Capital Management LP is in talks to buy Australian bootmaker R.M. Williams from French fashion giant LVMH Moet Hennessy Louis Vuitton SE, the Australian Financial Review (AFR) reported on Wednesday.

The U.S. buyout specialist is conducting “late-stage due diligence” and trying to secure financing for a deal that would value the 88-year-old Australian manufacturer at more than A$250 million, the AFR said.

Representatives of TPG and LVMH in Australia were not immediately available for comment when contacted by Reuters.

A sale at the price quoted by the AFR would be a mark-down from the roughly A$500 million that was widely reported in Australian media as being R.M. Williams’s valuation when LVMH, via its investment arm L Catterton, put the asset up for sale in 2019.

However, fashion retailers around the world have experienced a sharp decline in sales since the COVID-19 outbreak prompted border closures and stay-home orders as governments attempted to slow the spread of the virus.

Also in Australia, LVMH-backed swimsuit maker Seafolly Pty Ltd appointed administrators in June citing a sales downturn from the coronavirus.

Reuters

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.