PEP in Spotless fee bonanza

Private equity firm will write itself a $24.6m cheque in advisory fees should its Spotless float meet $1.85bn valuation.

Australian private equity firm Pacific Equity Partners will write itself a $24.6 million cheque in advisory fees for the float of its catering and management services firm Spotless if it secures a price valuing the business at $1.85 billion.

The float is part of a multi-million-dollar pipeline of Australian and New Zealand companies PEP plans to sell or list on the public market in the next year, as it positions itself to reap millions in fees and cash from the sale of businesses.

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