Coliseum

Canaccord Genuity acts as broker to Coliseum Capital Management, LLC in its on-market cash offer for the shares of The PAS Group Limited

Canaccord Genuity is pleased to announce the increase of Coliseum Capital Management, LLC’s (Coliseum) ownership stake in The PAS Group Limited (PAS, ASX:PGR) to approximately 65% via an on-market cash offer via its subsidiary Brand Acquisition Co., LLC (Bidder).

Canaccord Genuity was the acting broker to this offer, standing in the market to acquire approximately 22 million shares on behalf of the Bidder at the offer price of A$0.51 per share. The offer increased Coliseum’s ownership stake by approximately 16% to approximately 65%. The transaction highlights Canaccord Genuity's seamless global partnership with the client relationship held in Toronto and execution performed in Australia.

Having acquired this majority stake, Coliseum is able to utilise its operating experience, broad relationships and access to capital to implement its growth strategy and unlock further value for PAS shareholders.

Coliseum has deep experience in investing in the equity and debt of private and public companies across a wide range of industries, and has a long track record of working constructively with strong management teams to enhance value for all stakeholders.

PAS is a leading Australian apparel brand owner with 280 retail stores, wholesale distribution across department stores and specialty retailers, and a growing online retail presence. Its portfolio of brands include Review, JETS Swimwear, Yarra Trail, White Runway, Designworks and Black Pepper. PAS currently employs 1,400 employees in Australia and internationally.