Ironbridge, a leading independent Australian private equity manager, today announced the acquisition of furniture retailer Super A-Mart from the founder and owner John Van Lieshout for approximately $500 million. The business has been acquired in partnership with Ironbridge Fund investors GIC Special Investments, Partners Group and Macquarie Funds Management and with the management team of the company.

Super A-Mart is Queensland and Northern New South Wales' leading furniture retailer with 21 "Big-Box" retail stores in the region with revenues approaching $400m and a circa 20% market share of the Queensland retail furniture market. The business has enjoyed outstanding growth since its establishment in 1970.

Greg Ruddock, Managing Partner of Ironbridge, said: "Super A-Mart has a strong market position in the Queensland retail furniture market and excellent growth opportunities, both within their existing Queensland core market and throughout Australia.

Ironbridge has an established track record in acquiring businesses with leading brands and favorable growth prospects. The acquisition of Super A-Mart entirely fits this bill. We are confident that we can support the proven management team to create a successful private equity investment."

The management buyout is led by two senior and experienced Super A-Mart executives, John McWilliam and Gary Koeter. They have collectively more than 35 years experience running all facets of the Company's operations.

McWilliam said "This is an exciting turning point for Super A-Mart. We look forward to leading our excellent team and to continue to build on the strong foundations and culture created over 36 years by John Van Lieshout."

Ironbridge manages more than A$450 million on behalf of a range of Australian and international institutional investors, and typically targets investments into companies valued at $100 million and above in businesses with market leading positions and strong growth prospects.

Ironbridge has announced three significant transactions in the last twelve months, including the acquisitions of Barbeques Galore, the leading Australian and US specialty barbeque retail chain, and Qualcare, a leading NZ Aged Care operator.

UBS, RBOS and the National Australian Bank provided the debt finance package. Oaktower Partnership introduced Ironbridge to the transaction and Ironbridge was advised by Oaktower, Clayton Utz, Crescendo and Ernst & Young.

John Van Lieshout was advised by Hemming + Hart, Lawyers and Fell Eales McGarry, Accountants.

For further information please contact:

Greg Ruddock	+61 2 9250 8730
Justin Kirkwood, Kirkwoods Corporate Relations	+61 2 9231 5600

Ironbridge
Ironbridge is a leading independent Australian private equity manager, managing funds in excess of A$450 million on behalf of Australian and international institutional investors. Ironbridge is focused on investments in medium to large sized management buyout and expansion capital transactions in Australia and New Zealand.

Super A-Mart
Super A-Mart is a leading chain of furniture retail stores, established in 1970 with a unique proposition of the widest range of quality furniture available at the lowest prices. The company operates 21 large format stores throughout Queensland and northern New South Wales.