Page 6 - Australian Paint & Panel March-April 2020
P. 6

 NEWS
    6
PAINT&PANEL MARCH / APRIL 2020
WWW.PAINTANDPANEL.COM.AU
8 DINGGO GOES NATIONAL • 10 AUTOMECHANIKA • 12 I-CAR GOLD • 12 LOMBARDI’S SUPERCAR WORKSHOP
   GROWTH FUND
HE GROWTH FUND HAS STRUCK A
deal with the Royan Group, which
started life in an old wood and coal yard in Parramatta in 1944.
The Growth Fund has agreed terms to take a controlling stake in the family-owned and operated company and is working to finalise the transaction.
Royan is a 75 year-old, third generation busi- ness with eight sites on the east coast and strong relationships with national insurers and clients. The Financial Review's Street Talk speculates that it looks like a fairly typical platform-style deal from the private equity group.
The article says that it would make sense to in- ject capital to try to grow the business beyond its three-state presence – and capitalise on the com- pany's strong roots in its established markets.
The Growth Fund typically invests alongside founders and management in businesses worth up to $200 million. Its portfolio includes a stake in Laser Clinics Australia, fuel storage tanks company FuelFix, dental roll-up Ekera Dental and car-sharing operator GoGet.
The Growth Fund managing partner for NSW, Tim Spencer, is expected to join the new Royan Group board.
IAG SCHOLARSHIP
T
            INVESTS IN ROYANS
                ABOVE: Industry-leading truck repair group set to grow.
                 IAG HAS TEAMED UP WITH THE AUSTRALIAN
Association of Progressive Repairers (AAPR) to recognise automotive repair businesses who support the collision re- pair industry by employing apprentices.
IAG's Troy Johns said that the auto scholarships program provides a unique platform and opportunity to support the collision repair industry, and that aligns with IAG’s vision.
AAPR’s Auto Scholarship program is supported by World Skills Australia, SAPE and other key industry stakeholders, and focuses on supporting emerging talents.
The first recipient is Cessnock Smash Re- pairs, NSW and its apprentice Matt Brandt. Cessnock Smash Repairs has been in business for over 30 years. It is run by Greg and Jennifer Gearing and support- ed by their two daughters and many
long-standing employees.
“We take great pleasure in accepting
this award from Troy,” said Jennifer. “We would like to thank the local Newcastle
team from IAG, Greg Preston from AAPR, Ian Vickery from World Skills Australia and Adam McDonald TAFE NSW Glendale Campus.
“A special anks to Beau
Knowles from Sydney Au-
tomotive Paints and Equip-
ment, who supplied and
contributed to this award
with a GYS induction sys-
tem. This will complement
our high standards in auto
repairs. Using innovative
equipment benefits our
whole team and our customers,” Jennifer said.
Beau Knowles SAPE equipment manag- er said: “SAPE Group is committed to sup- porting and encouraging the next genera- tion in the automotive repair industry. It was with great pleasure that SAPE could contribute a GYS heat inductor, which is an innovative tool that will assist
in repairs throughout the workshop.”. Apprentice Matt Brand has excelled in his field of autobody repairs, achieving a gold medal at the National World Skills Championships in 2018. Brand also re- ceived a Future Leaders Award and spent six weeks in the USA on a Big Brother Mentoring program to broaden
his skills in the industry.
  FROM LEFT: Beau Knowles, SAPE; Troy Johns, IAG; Greg Preston, AAPR; Jennifer and Greg Gearing.
          
























































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