Roc Partners is acting on behalf of a state-sponsored business fund.
It is understood the green steel roll-up investment was made on behalf of the Victorian Business Growth Fund, which is a 10-year fund that invests capital on behalf of the Victorian government and First State Super.Roc Partners, which was appointed to manage the Victorian Business Growth Fund in 2020, oversaw the scrap metal investment on its behalf.
Roc Partners dealmakers Michael Lukin and Alex Tandl would represent the fund on NewCo’s board, it said. The transaction completed in the second half of June. The scrap deal saw metals recycling company Pacific Metal Group, based in Melbourne’s inner western suburbs, join forces with family-owned Cougar Recycling and Port Melbourne Metals, in Port Melbourne.
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