Allegro Funds

Allegro Funds is a Sydney-based private equity firm that focuses on mid-market opportunities and special situations across Australia and New Zealand. It specializes in expansion capital, management buyouts or buy-ins, restructurings and turnarounds, and other middle-market investments, including private companies, subsidiaries of overseas groups, and publicly listed entities. The firm avoids investing in property development, early-stage ventures, or primary industries such as agriculture or mining, though it backs companies that service those sectors. It targets enterprise values up to AUD 300 million with equity investments of AUD 10-50 million and revenues above AUD 50 million, seeks controlling stakes and typically assumes a board seat. Exits are generally within three to five years. Allegro Funds was founded in 2004 and is based in Sydney.

Bhargava, Uddhav

Investment Manager

Steve Bushaway

Operating Partner

Timi Cheng

Operating Partner

Jennifer Cheung

CFO

Sarah Hyden

Operating Partner

Christopher Koeck

Managing Director

Johan Krynauw

Investment Manager

Khosrow Kyanian

Assistant Director

Chester Moynihan

Managing Director and Founding Partner

Mark Sheriff

Operating Partner

Theodore Sun

Investment Manager

Robert Thorpe

Director of Finance

Jeremy Trouncer

Investment Director

Menno Veeneklaas

General Operating Partner

20 past transactions

Slater & Gordon

Acquisition in 2023
Slater & Gordon is a prominent consumer law firm based in Melbourne, Australia, with an expanding presence in the United Kingdom. Founded in 1935, the firm specializes in a wide range of legal services, including personal injury, workers compensation, motor vehicle accidents, public liability, and various insurance matters such as superannuation and disability insurance. Additionally, Slater & Gordon handles class actions, commercial litigation, and employment law, while also providing advisory services related to trade union and labor movement law. The firm employs approximately 1,300 individuals across 83 locations in Australia and another 1,300 in 18 locations in the UK, reflecting its significant footprint in the legal sector.

Gull

Acquisition in 2022
Gull New Zealand Limited is a biofuel retailer based in Auckland, New Zealand. Established in 1998, the company operates convenience stores and fuel terminals, delivering various fuels including petrol, diesel, and biofuels for commercial use. Gull is notable for being the first fuel company to introduce innovative fuel products to the New Zealand market, including their high-performance biofuel, Gull Force 10, which consists of 10% ethanol blended with premium gasoline. This on-site blending process simplifies fuel production and supports the local economy by utilizing locally produced ethanol, reducing reliance on imported fuels. Additionally, Gull provides bunkering services for large commercial vessels and super yachts, and offers fuel cards for various customer needs. As of July 2017, Gull operates as a subsidiary of Caltex Australia Limited.

Toll Global Express

Acquisition in 2021
Toll Global Express is a diversified transportation and logistics business with an unparalleled network across Australia and New Zealand. The group provides express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand.

Questas Group

Acquisition in 2019
Questas Group provides hydraulic, irrigation, pump and engine solutions to mining, construction, agricultural and general industrial sectors. It operates as an online distributor of leading hydraulic brands, supplying hydraulic components and water handling services to industrial and commercial clients. The company also offers chrome plating and cylindrical grinding services to support equipment maintenance and performance, reflecting a broad service offering that combines distribution with value-added engineering and surface finishing capabilities.

Hannahs Shoes

Acquisition in 2017
Hannahs Shoes is a specialty retailer operating under the Hannahs brand with 52 stores, and additionally under the Hush Puppies brand and Auckland Pulp store with 10 locations. They offer a wide range of footwear for men, women, and children.

Number One Shoes

Acquisition in 2017
Number One Shoes Limited is a footwear retail chain based in Auckland, New Zealand, specializing in discount footwear. Founded in 2001, the company provides a wide range of products, including shoes, boots, slippers, sandals, and sports footwear for men, women, and children. In addition to its physical stores, Number One Shoes offers an online shopping platform. The company was previously known as Discount Shoe Warehouse Limited until it rebranded in October 2009. As of November 2017, it operates as a subsidiary of Hellaby Holdings Limited.

Everest

Acquisition in 2017
Everest Foods PTY LTD, founded in 1958 and based in Reservoir, Australia, specializes in the manufacture and distribution of a diverse range of frozen desserts, including ice cream, gelato, and sorbet. The company also produces frozen pasta and low-fat yogurt, catering to various sectors such as hotels, restaurants, airlines, schools, and gyms. With a manufacturing facility located in Melbourne, Everest Foods is dedicated to delivering high-quality gourmet products, including artisan gelato and bulk food service offerings.

Terrex Seismic

Acquisition in 2017
Terrex Seismic offers seismic acquisition services, surveying, and geophysical processing for global oil, gas, and mining industries. Based in Australia, they use advanced systems like cable-less recording and various vibroseis options to map subsurface structures, supporting clients' evolving energy needs.

healthylife

Acquisition in 2017
Healthylife is an online retailer curated for all your health needs and goals, including health and wellness products, expert-based health advice, free health programs, and more. They concentrate on the essential elements of a better living, including diet, exercise, lifestyle, and well-being.

JSW Australia

Acquisition in 2016
JSW Australia provides drilling services for mining and civil projects across Australia, including drill and blast operations, contour drilling and blasting in steep terrains, and production blasting in nickel, bauxite, iron ore, and coal mines. It also conducts water well drilling, exploration and diamond drilling, service holes, casing advance, well control, and fleet management support. The company offers resource definition, green energy initiatives, directional drilling, gasfield infrastructure and control, and project management services. Founded in 1996 and based in Bibra Lake, it operates branches in Kalgoorlie, Port Hedland, and Boddington. It serves Tier 1 customers across commodities such as iron ore, gold, and bauxite.

Experience Australia Group

Private Equity Round in 2016
Experience Australia Group is experiential tourism business which owns a portfolio of businesses providing tourism services.

Pizza Hut Australia

Acquisition in 2016
Pizza Hut Australia is a prominent restaurant chain and international franchise that specializes in Italian-American cuisine, particularly known for its diverse selection of pizzas. The company offers a wide array of menu items, including pasta, salads, wings, garlic bread, and desserts. With a focus on providing both dine-in and delivery services, Pizza Hut Australia caters to customers seeking a convenient dining experience either at the restaurant or in the comfort of their homes.

Carpet Court

Acquisition in 2015
Carpet Court owns and operates a chain of residential and commercial flooring product stores throughout New Zealand. It offers carpets, laminates, tiles, vinyl products, luxury vinyl tiles, and wood and timber floors, as well as curtains and blinds. The company is headquartered in Auckland, New Zealand.

Great Southern Rail

Acquisition in 2015
Great Southern Rail has owned and operated The Ghan (Adelaide-Alice Springs-Darwin), the Indian Pacific (Sydney-Adelaide-Perth) and The Overland (Melbourne-Adelaide) rail journeys since 1997 when it became the first transcontinental passenger rail business to be privatised in Australia.

Custom Denning

Acquisition in 2014
Custom Bus is a bus-body building company established in 1955, recognized for its high-quality and durable city buses designed for a lifespan of 25 years. The company caters to the Australasian passenger sector by manufacturing electric buses, coaches, and trucks, alongside providing essential vehicle components such as spare parts, bench seats, and seat belts. Custom Bus serves a diverse clientele, including some of the largest government and private bus operators in Australia, ensuring its products meet the rigorous demands of public transportation.

Bos International

Debt Financing in 2012
Bos International provides debt solutions, treasury, and risk management services for corporate customers and financial institutions.

TSC Group

Acquisition in 2012
TSC Group Holdings Pty. Ltd. specializes in technical maintenance services and small-scale fit-outs for commercial and industrial heating, ventilation, and air conditioning (HVAC), refrigeration, and fire safety and security systems in Australia and New Zealand. The company offers a comprehensive range of HVAC services, including design, installation, refurbishment, replacements, project engineering, and preventative maintenance, along with 24-hour breakdown support. In the fire safety sector, TSC Group provides design, installation, service, maintenance, and compliance testing for fire prevention and detection systems, fire alarms, suppression systems, and emergency lighting. Additionally, its security services encompass the design and installation of access control systems, CCTV, intruder alarms, and monitoring solutions, with 24-hour emergency support. TSC Group serves a diverse clientele, including sectors such as commercial, health, education, telecommunications, industrial, and government. Founded in 2012 and based in Auburn, Australia, TSC Group operates as a subsidiary of Cofely Australia.

Vulcanite

Acquisition in 2011
Vulcanite is a design and manufacturing organization specializing in engineered rubber products for the rail, construction, and industrial markets. The company partners with clients to deliver flexible engineering services and is certified under AS/NZS ISO 9001/2008 standards. Vulcanite designs and manufactures components that utilize rubber and steel-molded composites, which are essential for isolating mechanically induced vibrations. This capability allows the company to effectively serve railway rolling stock builders and vibratory piling hammer manufacturers, ensuring high-quality solutions tailored to industry needs.

I-MED Radiology Network

Acquisition in 2011
I-MED Network Radiology is Australia's largest private medical imaging network, operating over 200 clinics across major metropolitan areas and significant rural regions. Annually, the network conducts over 4 million patient examinations, supported by a team of approximately 300 specialist radiologists, 50 nuclear physicians, and 3,900 staff members. The clinics provide a comprehensive range of radiology services, including X-ray, CT, MRI, nuclear medicine, ultrasound, cardiac imaging, and interventional procedures, ensuring high standards of diagnostic accuracy for referring medical practitioners and patients. Established in 2000 and expanded through a merger with MIA Group Limited in 2004, I-MED remains privately owned and is recognized as one of the largest providers of medical imaging services globally.

Discovery Holiday Parks

Acquisition in 2008
Discovery Holiday Parks is a prominent operator of lifestyle holiday parks across Australia, boasting nearly 60 locations. The company focuses on providing a range of accommodation options, including poolside cabins and waterfront villas, catering to diverse customer needs such as family holidays, short getaways, work stays, and corporate accommodations. Discovery Parks aims to enhance the holiday experience by offering facilities that allow guests to enjoy a relaxing and memorable stay, often featuring amenities that accommodate motor vehicles and boats. Through its commitment to quality and customer satisfaction, Discovery Holiday Parks has established itself as a key player in the recreational and holiday services sector.
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