Capital markets

Harvest

iPartners presented an opportunity that enables investors to co-invest with management in equity raises of the Harvest Pub Funds. The iPartners Harvest Pub Fund Series acquire stapled securities that join the units of the Harvest Pub Funds and shares in the operating company.

Harvest Hotels is a specialist manager of large format pub portfolios and is the Investment Manager of Harvest Pub Funds. The funds aggregate a portfolio of pubs in regional NSW that meet Harvest’s strict acquisition model, enabling efficiencies to be captured in their operations with earnings enhanced through effective management and a potential exit to be pursued as a portfolio to a suitable buyer.

The iPartners Series provided the opportunity to co-invest alongside an experienced management team and other external investors, providing exposure to the pub portfolio as it grows. Returns to investors are delivered through a combination of income and growth.

Redimed

REDIMED is a Perth based business that operates five medical clinics and is focused on treating workplace injuries. It is unique in that its clinics offer integrated and comprehensive health and allied health services to injured employees to reduce their recovery time. Redimed operates five medical clinics focused on treating workplace injuries. It is unique in that its clinics offer integrated and comprehensive health and allied health services to injured employees to quicken their recovery time.

iPartners provided the opportunity to invest in REDIMED HoldCo Pty Ltd through Coogee Capital, the private equity firm that originated and arranged the transaction. Coogee Capital acquired a 50% interest in REDIMED with iPartners investors coinvesting alongside other institutional and strategic investors. The equity raise was used to fund both the acquisition and future growth and expansion opportunities for REDIMED.

Tractor Ventures

Tractor Ventures was founded in 2020 and has become one of Australia’s largest providers of revenue-based financing to small to medium enterprises (SME’s). Tractor targets businesses that have technology-oriented offerings, including but not limited to software, SaaS, consumer services, technical services, downloadable digital content, and similar enterprises. Their lending solution enables entrepreneurs to build their business by quickly accessing non-dilutive growth capital which in addition promotes strong positive alignment with the founders.

iPartners has provided debt financing and refinancing to support Tractor’s considerable growth for their service across both Class A and Class B Notes. The Class A notes benefit from 40% loss protection that is provided by subordinated notes.