ABGF is Australia’s only purpose-built growth capital fund with a profit-for-purpose investment model dedicated to the SME sector. It was founded with initial capital of $540 million as a public-private partnership between the Federal Government and six leading banks in Australia. ABGF provides growth capital and follow-on funding to established Australian businesses in a manner that bridges the gap between venture capital and traditional private equity.
Griffin is an Australian-grown and leading provider of maritime sustainment services to Australia’s defence and commercial vessels. It employs over 200 skilled workers and has operations across all four of Australia’s major naval homeports in Henderson (WA), Sydney (NSW), Darwin (NT) and Cairns (QLD). This investment is ABGF’s second defence-linked transaction, and the partnership with Griffin will accelerate the next stage of Griffin’s growth and support it in strengthening its operations, growing its workforce, expanding into shipbuilding and pursuing future acquisitions.
The Becketts team who advised ABGF on the transaction included Robert Feiner and Quentin Reidy, Partners, supported by Zhong Wu, Senior Associate, and Louise Mendes, Associate.