One of Australia’s largest container companies, SCF Group, will be restructured after its main backer appointed receivers to the parent companies.
British investment giant Intermediate Capital Group appointed receivers from McGrath Nicol to Popeye Holdco and Popeye Bidco, the entities that own SCF Group.
ICG bought into SCF in 2012 after picking up the stake owned by private equity group Archer Capital.
The operating entity SCF Group itself has not been placed into receivership.
No jobs are expected to be lost at its Adelaide headquarters or other sites but SCF Group chief executive Richard Sykes and chief financial officer Nick Wood…
Read the full article at: http://www.smh.com.au/business/scf-group-parent-placed-into-receivership-by-uk-backer-20170413-gvkhi7.html