11 August 2016
The appointed Administrators for Eagle Boys, SV Partners confirms that an Information Memorandum has been released to a number of parties that have expressed an interest in purchasing the Eagle Boys business.
In what is expected to be a rigorous and competitive sale process, SV Partners is focused on securing a positive outcome for all creditors, the brand and existing franchisees over the next six weeks.
SV Partners has appointed Crowe Horwath Corporate Finance to co-ordinate the sale process.
The timelines for the sale process are as follows:
Submission of non-binding Indicative Offers 5pm (Brisbane time) 17 August 2016
Short list parties and host due diligence 18-31 August 2016
Submission of final binding offers 6 September 2016
Documentation/completion 20 September 2016
“We are operating on a short time frame to minimise interruption to the Eagle Boys business, including that of franchisees,” said David Stimpson, Administrator, and Executive Director at SV Partners.
“We have had a large number of interested parties contact us and are now looking for a clear commitment through the due diligence and binding offers stage. Despite recent press articles, we are not preferring any one interested party over another at this point. That decision will be made during the due diligence stage once Expressions of Interest have been received.”
All enquiries in relation to the sale process should be directed to Crowe Horwath Corporate Finance as follows:
David Ward
Principal – Corporate Finance
Crowe Horwath Corporate Finance (Aust) Limited
Email: [email protected]
Phone: +61 7 3233 3454
Mobile: 0413 758 197
The Eagle Boys management team is looking forward to the prospect of growing the brand under new ownership and would like to thank Eagle Boys customers, franchisees and team members for their ongoing support during this time.
-ENDS-
All media enquiries to be directed to:
Richard Coombs BBS Communications 07 3221 6711