The one-time National Australia Bank executive has been assisting the businessman with his pub empire as it struggles to lock in a much-needed refinancing.
Already a subscriber?Former KPMG deal maker Jon Adgemis has turned to Andrew Hagger, a one-time National Australia Bank executive who went on to run Andrew Forrest’s family office, as he attempts to arrange emergency funding to keep his hospitality empire afloat.
Former Tattarang chief executive Andrew Hagger has been involved in talks to refinance debt for Jon Adgemis’ pub empire PHG.’s Street Talk column that PHG had “not complied with the terms of the agreement, so the agreement is now at an end”. That was a reference to a $500 million refinancing package the private equity giant’s special situations fund was proposing to advise to Mr Adgemis.
The company had 10 invoices – the largest being almost $12,800 – to QCC Hospitality Supplies, a wholesale distributor of restaurant and hotel supplies, and one outstanding bill each with meat supplier Haverick Meats and wine importer Vintage and Vine.Mr Hagger left Dr Forrest’s Tattarang and Minderoo Foundation in October 2022, and has since been on a career break, his LinkedIn profile showed.
The failure of the refinancing deal with Bain, and Sydney’s Madigan Capital, came after Mr Adgemis was unable to complete several requirements of the agreement. It has previously raised $40 million from investors through a convertible notes raising, which notably found support at Alex Waislitz’s Thorney Investment Group.
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