Archer Capital’s $300 million V8 Supercar private equity deal
V8 Supercar racing is one of Australia’s fastest growing sports and the premier motorsport category in Australasia with millions of television viewers in the country. Corrs Chambers Westgarth advised leading private equity house Archer Capital on its acquisition of a controlling stake in V8 Supercars Holdings Pty Limited (V8 Supercars) in 2011.
The deal, which was undertaken at an enterprise value of more than $300 million, will ensure the continued development of V8 Supercars motor sport in Australia.
According to Andrew Gray, partner of Archer Capital, it was: “the excellent legal and commercial support provided by the [Corrs] team that was a vital part of our capacity to win in a competitive bidding process”.