Deloitte seeks buyers for Hart Sport, deals this week

The information memorandum and desk due diligence have revived memories of sports carnivals, lunchtime heroics on the football field or basketball court of private operators, jumping rope and mini-jumping. -trampolines.

Much of the equipment involved bore the Hart Sport logo.

Deloitte is understood to call for the first round of bids on Wednesday, before shortlisting the parties for a full DD course.

Hart Sport is expected to attract interest from middle-market private equity firms, most of whom love to invest to help founders and family businesses make the transition, and other school supply providers. Pacific Equity Partners’ Modern Star, which supplies learning articles, is a logical suitor.

Hart Sport is wholly owned by Greg Harten, according to documents filed with the corporate regulator. Harten started the business in 1992, having previously worked as a tennis coach. He started with mail order catalogs to schools in Queensland, before expanding to the rest of Australia.

It strikes Street Talk as the kind of Queensland-born and bred business that would often be launched by stockbroker Morgans. For whatever reason, Deloitte has the mandate and the process is biased toward finding a new equity partner or buyer.

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