Archer Capital Growth Fund has sold down its investment in SA-based container leasing company SCF Group, in which Archer held a majority stake.

Minter Ellison reports UK-listed Intermediate Capital Group has taken a minority stake in SCF Group and the SCF management team, led by CEO Richard Sykes, has increased its stake to hold a majority stake following Archer's exit.

SCF Group sells and leases cargo shipping containers and is a major supplier of storage containers to Australian transport resources, construction and static storage industries.

Minter Ellison, represented by Dan Marks (Partner), Greg May (Partner), Rosalie Brady (Senior Associate) and Annabel West (Associate), advised the selling shareholders of SCF Group: Archer Capital Growth Fund, the founders of SCF Group, Richard Sykes and Lindsay Carthew, and other management shareholders.

Minters partner Dan Marks says the transaction is a “fantastic” result for the shareholders of the SCF Group and provides “a successful exit for Archer and a further stepping stone to the continued growth of the group”.

"It was the culmination of months of hard work by all concerned and the team at Minter Ellison is delighted to have been involved and to have assisted with the successful outcome,” Dan says.
 

Updated 5 June 2012