Hawkesbridge Private Equity has bought manufacturing company Bulk Handling Australia (BHA) for an undisclosed sum.
Hawkesbridge manages $200 million on behalf of superannuation funds, including the WA Local Government Superannuation Plan, Local Government Saving Scheme New South Wales and Meat Industry Employees' Superannuation Fund.
It targets companies valued up to $60 million.
BHA is the first investment from the Hawkesbridge Private Equity Fund 3.
BHA is a manufacturer and importer of flexible intermediate bulk containers used to transport food, industrial minerals and fertilisers for blue-chip clients in Australia and New Zealand.
"We believe that companies of this size and quality make excellent private equity investments," Hawkesbridge Private Equity managing director and partner David Plumridge said.
BHA founder and director Howard Riley will retain a large stake in the business.
The Hawkesbridge Private Equity Fund 3 will seek to invest in up to eight expansion and management buy-out or buy-in opportunities.
It will focus on Australian owner-operator businesses with enterprise values of greater than $10 million, but less than $50 million.
