Spotless undergoes radical structural and personnel changes

In recent weeks Spotless, now owned by Pacific Equity Partners (PEP) and Spotless management, has undergone a radical re-structure with concomitant personnel changes. The organisation is now going to market by ‘tailoring services to market sectors’. ‘Under the leadership of CEO Bruce Dixon, swift steps have been taken to push decision-making and responsibility down into […]

Spotless grants non-exclusive due diligence to PEP

Saying it’s in the best interests of all shareholders to minimise the ‘period of disruption’, Spotless yesterday announced that it had agreed terms with PEP based on which it intends to provide PEP non-exclusive due diligence. ‘Spotless advised PEP on 9thJanuary 2012 that, in the current circumstances, the lowest price at which the Spotless Board […]

PEP and Spotless reach stalemate

Today’s Sydney Morning Herald’s BusinessDay ( has reported that ‘the private equity firm interested in buying Spotless Group says it is unable to increase its offer without access to the Spotless books.  But Spotless wants Pacific Equity Partners to increase its indicative offer before allowing access.’ PEP has offered $2.68 for each Spotless share, valuing […]

Godfreys undergoes major balance sheet restructuring to cut debt

Godfreys has undergone a major balance-sheet restructure that has cut direct obligation debt by 90 per cent, reports The Australian’s Andrew Main (10 January 2012, Main notes, ‘the company, which was bought by a consortium headed by Pacific Equity Partners and Unitas Capital for more than $300 million in 2006, has been a putative […]

Spotless sets a $2.80 per share minimum takeover price

Spotless has today advised Pacific Equity Partnersthat  ‘the Spotless board would unanimously recommend that shareholders vote in favour of a scheme of arrangement proposal from PEP at a total cash consideration of not less than $2.80 per Spotless share (subject to there being no superior proposal, an independent expert opining that the scheme is in […]


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