The car parts group’s changing of the guard has seen a reshuffling in its adviser ranks.
The car parts group’s changing of the guard has seen Macquarie Capital wedge its way into the house adviser role, replacing long-time adviser Morgan Stanley.It is understood MacCap’s bankers won a pitching contest held over the past few weeks, and have already started monitoring the group’s share register for any unusual activity and helping the new management team with their strategy..
Meehan was out with his first results as CEO on February 9. First-half profit was broadly in line with sell-side analyst forecasts, although the number-crunchers are keen to see whether Bapcor’s new distribution centre can help pinch back market share. Macquarie analysts, for what it’s worth, reckon Bapcor’s worth $8 a share, which is about the average in a 12-analyst survey by Bloomberg.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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