WorkPac
Strengthening WorkPac for a successful sale
Workforce Solutions & Recruitment
2020
Partnered
Location
AUSTRALIA
Status
REALISED
Overview
WorkPac is one of Australia’s largest workforce solutions businesses, providing labour hire and recruitment services across mining, construction, infrastructure and other industries.
Founded more than 25 years ago, the business grew into a significant national workforce platform, supporting clients and workers across Australia.
Watch the Story
“I’d built the business I set out to build, but I had no experience in how to exit it or structure it for the next stage. I knew I needed someone to come in as a partner, work alongside us and bring a different skill set. Five years later, we’d successfully completed that next chapter.”
How we helped
Phil Smart had built a substantial national business and wanted to prepare it for an eventual sale.
We invested alongside Phil and worked with him to strengthen the leadership team, simplify the business and ensure WorkPac was ready for a transaction when the time was right.
-
Helped appoint a new Chair, CEO and CFO, building a senior team capable of running the business independently.
-
Exited non-core activities and worked with management to reduce costs and build a leaner business focused on WorkPac’s core workforce services.
-
Renegotiated the funding facility and improved reporting, planning and commercial decision-making, giving WorkPac greater financial flexibility and management clearer accountability.
-
Worked with Phil and the management team to prepare WorkPac for market, assess the available transaction options and lead the sale through to completion.
More Partnerships
