Suncorp Group has formally hired boutique firm Luminis Partners to oversee the strategic review of its smash repairer investment, Capital S.M.A.R.T Repairs.
Read more: Suncorp mulls sale of smash repairer investment
Capital S.M.A.R.T, Australia’s second biggest smash repairer, is owned 95% by Suncorp through its investment arm, Suncorp Insurance Ventures.
Suncorp is considering a number of options for Capital S.M.A.R.T, including selling a majority stake to an offshore acquirer, with the insurance giant believed to be seeking a sale multiple of at least 10 times earnings, equivalent to more than $300 million, Street Talk reported.
