GPI has sold the group's automotive division, fitness division and corporate division to Australian private equity firm Collins St Asset Management

MELBOURNE, Australia - Oct. 26, 2022 - PRLog -- CDI ANZ was engaged to divest GPI Group and developed a consolidated IM on the business and its respective business units, identifying the strengths of a highly diversified business, but also internally recognizing the challenges that CDI will be faced in finding the right buyer given the diversified nature of the operations.

Melbourne-based Collins Street Asset Management has bought the automotive, fitness and corporate divisions and was engaged and showed interest in the assets for their specific strategic purposes.

Under the arrangement, GPI founder and CEO Colin Edwards will head the operation for the next two years and the group's more than 200 personnel will be retained. Existing management has also been given the opportunity to invest in the business.

Collins Street Asset Management purchased the businesses because of the prospects and the performance that the business has shown over the years, as well as its underlying operational strengths and competitive advantages.

GPI is a diversified business with a longstanding history of operation, and the acquired divisions included GPI Automotive: Automotive Aftermarket Consumables (Australia's largest importer and wholesaler of such products), GPI Sports & Fitness: Import and Wholesaler of Sports and Fitness products for home gyms, and GPI Corporate, a corporate promotional provider to large corporate businesses.

A long DD and legal process ensued following agreed terms; the length of this DD & legal process was heightened given the complexities behind a diverse company as well as general economic challenges that were encountered across 2022.

"We are extremely pleased for both parties to have reached an agreement and conclusion on this deal. Whilst it was a long and arduous process, everyone involved needs to be commended on their efforts. We are very happy for Colin on his successful exit, and are excited to see what the CSAM team will bring to this great company over the coming years," said Toon van Beeck, Managing Partner of CDI Global ANZ.

About CDI

CDI Global's international reach provides distinctive advantages for multi-national clients. CDI Global has successfully partnered and collaborated with clients around the world, in vertical sectors that span virtually every major industry.  Our executive team works collaboratively to meet your strategic goals and our success is built on the long-term relationships we develop, providing broader insight and opportunities for our clients. We are committed to conducting all of our business activity with confidentiality, respect and integrity.

For more information, visit https://www.cdiglobal.com.

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