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SAI Global puts itself up for sale

R

Reg Morrison

#1
STANDARDS and compliance services provider SAI Global has put itself up for sale after a takeover approach from Pacific Equity Partners worth up to $1.11 billion spurred interest from other parties.

SAI Global said it would open a virtual data room to potential bidders, including PEP, which has made an indicative offer of between $5.10 and $5.25 for each of its shares.

read the article.
 
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K

kgott

#2
SAI Global are the biggest CB in Australia and supplier of national and international standards.

Who are these people taking them over?
 
R

Reg Morrison

#4
U.S. buyout giant KKR & Co LP is expected to join Australia's Pacific Equity Partners (PEP) to lodge a $1 billion bid for Australian compliance company SAI Global Ltd, two sources familiar with the matter told Reuters.

read more....
 

Marc

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#5
"Early-stage interest appears to justify a decision by SAI to open up its books for potential buyers, after struggling with two years of declining profits and recently terminating its chief executive officer's contract after four months"

I wonder how registrars in general are doing.
 
#6
SAI is huge - much, much bigger than the registrar part. I was at Excel Partnership when they bought them and when the introduced themselves to us, it was clear they were an enormous organization of which we were going to be a tiny part. Even in buying QMI and AQSR (I think it was) the registrar part was still a small part of their (annuity based) revenues.
 
R

Reg Morrison

#7
I wonder how registrars in general are doing.
Not very well, in my estimation. As for SAI Global, their 2013 FY results can be viewed here. Because of their publicly traded status, they have to disclose a lot of financial information. The registrar business of SAI Global represents about 35% of their business. And, while SAI Global's primary financial woes had to do with a problem with their Compliance Division in 2013, the whole organization seems to be in turmoil, with the previous CEO being sacked by the Board after a few months in place.

Rumor has it that the Board sacked the CEO because of his desire to implement significant cost cutting measures to improve short term financial results. Shareholders can not be unhappy for too long, after all.

The dilemma is the obvious fact that, if the organization is sold to an investment/equity company, focus on profitability can only get higher.

As the certification market remains highly competitive, with dwindling profit margins, continual price pressure and lack of differentiation by providers of certification services, it will only get harder.

Instead of developing the sector into a confidence-delivery market, registrars and accreditation bodies dilute their importance day after day by making themselves less relevant. So, if a certificate is the deliverable, the cheaper, faster and easier path to the certificate will be the choice of most.

Attempts to create new accredited certification schemes, result, for the most part in minimal, unsustainable programs. The list of ANAB schemes include:

Aerospace
Body Armor
Counterfeits
Energy
Environmental
Event Sustainability
Food Safety
Forestry
HSPM
Info Security
IT Service
Medical Devices
OHSMS
Preparedness
Private Security
Quality
Recycling
Responsible Care
Snow
Supply Chain
Telecommunications
 
Last edited by a moderator:
R

Reg Morrison

#8
http://www.businessspectator.com.au...itions/sai-global-frustrated-buy-sale-process

Advisers working on the sales process for SAI Global are under pressure to strike a deal to sell a division of the company by the end of the week, according to sources.

The news comes with suggestions the group?s board is running out of patience over what has been a difficult sales process and that it may call it off if no result can be achieved.

There have already been indications that chairman Andrew Dutton will step down once a new CEO is found, following shareholder unrest.

SAI Global has three divisions: assurance, information services and compliance.

A sales process for the whole company collapsed almost two weeks ago, when it ended with no final bid for the business. At the time, SAI said talks would continue with parties interested in buying parts of the business.

Sources have said that the assurance arm would be the easiest to sell and the most attractive to suitors.

Industry participants such as Bureau Veritas, SGS and Intertek have been named as among the parties interested in the assurance division, which is involved in testing in the agrifood and transport sectors.
 
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