Proserpine Capital Partners Pty Ltd (“PCP”) AFSL: 412935 was formally established in January 2011 for the purpose of providing private investment and investment management services to wholesale customers and advisory services.
PCP presently has a broad investor group with a material level of capital committed and available for investment.
The founding shareholders of PCP have extensive expertise in investment banking and private equity built over many years. Such skills and expertise are expected to benefit wholesale investors and advisory clients.
PCP seeks to offer the highest quality investment management services to its investors.
PCP offers advisory services for select clients seeking strategic and/or capital structure advice.
PCP maintains a dedicated management team that undertakes rigorous due diligence with respect to investment opportunities and investment on behalf of its investor partners as well as comprehensive reporting on investment performance to investor partners.
As in intellectual rigour: that there be no double standards allowed and uniform principles are applied.
As in intellectual honesty: questioning assumptions without blind application.
Earnest and persistent application to an undertaking, steady effort, and attentive care.
- Private investment and investment management, and
- Advisory services.
Being an ‘owner,’ representing a highly credentialed group of private investors, enables PCP to understand what being an owner means. Hence, we believe we are well placed to understand your requirements.
Corporate and strategic advice.
Capital structuring – debt and equity requirements.
Acquisitions and divestitures.
Business planning and execution.
Proserpine Capital Partners Pty Ltd has successfully advised ProTen Limited, Australia’s pre-eminent broiler chicken farm operator on a $130 million capital raising. ProTen Limited’s Press Release follows.
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10th June 2015.
ProTen raises AU$34.0m to expand Australian chicken farm operations
ProTen Ltd, Australia’s largest independent contract grower of broiler chickens, today announces the successful raising of AU$34.0 million of equity that will fund growth and potential diversification opportunities.
The equity raising was oversubscribed, with significant support from both existing and new institutional and sophisticated investors.
The equity will be invested into a $130.0m growth strategy as ProTen pursues further organic growth projects, including possible expansion into related protein industries. The balance of capital has been sourced from ProTen’s senior lenders.
Trading in ProTen shares, which trade on New Zealand’s ‘Unlisted’ market, was suspended on May 6 at the request of the company pending completion of the capital raising.
The funds will underpin ProTen’s strategy to achieve significant earnings growth through the development of its Australian operations and will also be used to repay a Redeemable Preference Share financing completed in 2012.
The success of this capital raising highlights ProTen’s ability to secure ongoing investor support for a business that has stable recurring revenue and consistent margins as well as very attractive growth opportunities.
ProTen is targeting an increase in its total production from 40.0m to 72.0m chickens per year representing approximately 11% of Australia’s production. This will be largely achieved through organic expansion, predominantly in regional and rural areas. The company’s farms are located in New South Wales and Western Australia and have long-term supply contracts with Baiada, the nation’s biggest chicken processor.
ProTen is proud to be a major employer in regional Australia and intends to continue to be at the forefront of this exciting industry as demand for protein continues to increase.
Chicken is the most popular meat in Australia and is experiencing the fastest growing consumption rates globally, largely due to chicken’s price advantage over other meat.
ProTen was advised on the capital raising by Proserpine Capital Partners.
Shares are to resume trading on Wednesday 10th June.
Chief Executive Officer
Founded in New Zealand in 2001, ProTen’s business has been exclusively focused on the Australian broiler chicken market since 2008. The company manages 10 of the largest and most technically advanced contract grower farms, operating 172 sheds with a current capacity of 40 million birds or approximately 7% of Australia’s annual chicken meat production.