Anchorage Capital Partners announced today that it has completed the acquisition of Mark Group Pty Ltd (Mark Group).
Mark Group is a market leader in solar photo voltaic installations, with operations across Australia.
Mark Group was established in 2009 as a wholly owned subsidiary of Mark Group United Kingdom (MGUK). The business became available for sale following a restructure of the original family ownership of MGUK.
"Mark Group operates a strong platform within the solar installation sector with an established national footprint and a reputation for high quality service and products", said Anchorage Managing Director Phil Cave. "With the current focus on renewable energy sources and energy efficiency, we see significant opportunity in the business for sustainable earnings improvement."
MGA has a high quality management team who are well-known in the sector. Anchorage will be represented on the Board of Mark Group by Phil Cave as Chairman and Callen O'Brien as Non-Executive Director.
Anchorage Managing Director Callen O'Brien will chair the turnaround committee.
About Mark Group
Mark Group was established in 2009 and was previously a wholly owned subsidiary of Mark Group United Kingdom. The company is a market leader in solar photo voltaic installations with operations across Australia.
About Anchorage Capital Partners
Anchorage Capital Partners is a specialist Australian private equity firm that focuses on investing in companies which have strong and established track records, but are not achieving their full potential. The funds managed by Anchorage have $450 million in committed funds. Anchorage's partners and investment professionals have considerable experience in company management, corporate strategy, management consulting and corporate finance and have a long track record of successful partnerships with management teams.