Following Advent’s original investment in 2006, Locker grew to become the market leader in Australia with additional offshore manufacturing operations. Locker built up its manufacturing footprint, invested heavily in equipment, sales and operations, and expanded its operations offshore into India and China.
Under Advent’s guidance the strengthened sales and marketing team also began capitalising on fresh opportunities in the architectural and construction industries, along with the engineering, infrastructure and mining markets.
- Clear number one in Australian perforated metal manufacturing
- Unique Australian manufacturing capability coupled with off-shore manufacturing
- Established Australian distribution network
- Strong management team
- Fully integrate the Melwire acquisition (occurred just prior to Advent’s investment)
- Expand Screenex capacity to meet growth market opportunity in resources sector
- Rationalise manufacturing in Perth, NZ and Brisbane
- Expand distribution facilities in regional centres
With the help of Advent Private Capital, we have successfully improved and expanded our business. Advent has been a great partner, which has provided excellent guidance and assistance as we pursued our strategy.
- Accelerated expansion of the Screenex operation: sales increased 62% and EBIT 58%;
- Provided significant support in driving operational enhancements e.g. reduced stock levels;
- Successfully divested Screenex business for over nine-times the budgeted FY09 EBIT (proceeds ~$78million), and allowed complete repayment of all of Locker Group’s bank debt;
- Guided Locker Group expansion into China and India – key Asian growth markets; and
- Supported heavy investment in engineering, product development and manufacturing capability.