QIC Private Debt has supported Pacific Equity Partners’ (PEP) acquisition of ATOM Group – PEP’s first investment for their Fund VII - by providing an A$32 million commitment into the senior secured acquisition financing facilities to ATOM Group.
ATOM Group is Australia’s second largest industrial and safety goods distributor by market share with national distribution capabilities and scale.
ATOM offers a one-stop-shop servicing a range of blue-chip customers in diversified industries nationally. Products range from personal protective equipment and safety signage to traffic control and office supplies.
Phil Miall, Head of Multi-Sector Private Debt, QIC said they were pleased to support PEP in their acquisition and continue to deliver value for clients.
“ATOM has a diversified and stable revenue base, with wide sector and geographic coverage and extensive range of products, making it a solid value proposition and compelling investment opportunity,” Mr Miall said.
Mr Miall added that it was an ideal time to consider private debt as part of an investment portfolio.
“The increase in base rates since early-2022, along with relatively elevated credit spreads, have resulted in private debt yielding greater returns than those seen by this asset class over the past decade.”
QIC Private Debt launched in 2021 and now has over US$1bn of assets under management (AUM) and committed capital, split across Multi-Sector Private Debt and Private Debt Infrastructure, across four offices in Sydney, Brisbane, New York and London.
“Within our Multi-Sector Private Debt capability, our Australian market knowledge, direct origination focus and discerning approach to investment selection, enables us to move quickly and build diverse portfolios with attractive income and capital stability,” said Mr Miall.
“Our collaborative approach fosters genuine partnerships with our clients to navigate market cycles and opportunities together.”
