To play with a Straight Bat

idiom:

From cricket’s traditional association with fair play and good sportsmanship – meaning honest, decent, direct, straight forward, workman like, low risk, consistent and reliable performance. “Notching up singles, rather than swinging for the fences”.

Play the Long Game

Straight Bat is an income oriented private equity fund that plays the long game. We invest in mature, robust, profitable, medium sized Australian businesses for slightly old fashioned reasons – income, wealth preservation and sustainable capital growth.

What do we invest in?

We invest in mature, robust, profitable, medium sized Australian businesses, that specifically generate:

Revenue

$10-100m

EBITDA

$3-25m

EBITDA Margins

20%+

Great innings are
built on partnerships.

Our offering

To Business owners

Partnership

Great innings are built on partnerships. We are all in it together. We won’t tell you how to run your business. We love 50:50 deals but are flexible with minority or majority shareholding.

Long term horizon

We are very patient capital. We invest with an indefinite time horizon and for slightly old fashioned reasons – income, wealth preservation, sustainable capital growth.

Money off the table

You can take money off the table for liquidity and diversification. You will continue to receive regular dividends into the future.

Business Family

When we invest you become part of our business family. We commit to building relationships that endure from generation to generation. Our network is formidable. We have done this before and can help you succeed.

To Investors

High Yield

We aim to deliver a 10%+ net franked dividend yield per annum.

Capital Preservation

Conservative capital appreciation through natural business growth.

Diversification

A diversified portfolio of high-quality medium sized private businesses.

Access to additional opportunities

When you invest you become part of our business family. This includes optional participation in growth, debt and other opportunities that emerge from the portfolio.

Long game and income. In the end, family is the reason why we do this.

Our values and beliefs

We believe in fair play, in “having a crack”, the power of optimism, persistence, self-reliance and hard work. We believe in going into business with people we are comfortable having a “beer” with and that there’s more to life than money. We believe in having a good time, and that in the end, family is the reason why we do this. Play the long game…

  • All in it together
  • Straight Bat
  • Have a crack
  • Balance 168

At Straight Bat we are “all in it together”. Great innings are built on partnerships. When we go into partnership we become “business family”. We negotiate fair agreements that we will both be proud of in 10 years-time.

We are egalitarian and fair. Everyone in the team has a role to play - everyone is important and must be treated with respect. We are inclusive, respect difference and value diversity. We think about what is means to be a “good mate”.

We take responsibility for our behaviour and expect the same from those we deal with. To be successful we all have to “turn up to training”, “pitch in”, “roll up our sleeves”, work hard and support one another. We value people who are high achievers AND team players. We all benefit in the long run when we are “all in it together”.

We play the long game with a straight bat. We believe in the principles of a “handshake” deal. This means be your word, do what you say. Conduct yourself with authenticity, honesty and integrity.

We bring a 50:50 partnership mindset. We are fair with our team and in our business dealings. The best business deals are always a “two-way street”.

We tend to prefer a simple, low-key approach. It’s great to hit “fours” and ”sixes”, but games are usually won by consistently notching up “singles”.

We like to invest in good old-fashioned businesses, that quietly do simple things well – mature businesses, diversified customers, long term contracts, well understood products and business models, high margin, modest growth.

Our reputation is important, so we think carefully about our conduct, play the long game and play it with a straight bat.

It takes courage to “have a crack”.

We are entrepreneurs. We see possibility. We are made from optimism, persistence, self-reliance and hard work.

When you play the long game, having a crack, doesn’t mean being careless – it’s important to understand “which ball to let through to the keeper and which to put over the fence”.

We strive to show leadership in business and our community. We seek to empower people to make it happen. We believe in taking responsibility for ourselves and supporting others in our community to have the same opportunity.

At Straight Bat we recognise that there are 168 hours in the week.

We are responsible for balancing work, family, health, and personal passions. We believe that hard work results in achievement and satisfaction, but there is more to life than work and it’s not all about money.

It’s important to have fun. We try not to take ourselves too seriously.

It’s important to maintain perspective. We look for people who have a balanced approach and who’s company we enjoy – is this someone I want to have a “beer” with?

  • All in it
    together
  • Straight
    Bat
  • Have a
    crack
  • Balance
    168

At Straight Bat we are “all in it together”. Great innings are built on partnerships. When we go into partnership we become “business family”. We negotiate fair agreements that we will both be proud of in 10 years-time.

We are egalitarian and fair. Everyone in the team has a role to play - everyone is important and must be treated with respect. We are inclusive, respect difference and value diversity. We think about what is means to be a “good mate”.

We take responsibility for our behaviour and expect the same from those we deal with. To be successful we all have to “turn up to training”, “pitch in”, “roll up our sleeves”, work hard and support one another. We value people who are high achievers AND team players. We all benefit in the long run when we are “all in it together”.

We play the long game with a straight bat. We believe in the principles of a “handshake” deal. This means be your word, do what you say. Conduct yourself with authenticity, honesty and integrity.

We bring a 50:50 partnership mindset. We are fair with our team and in our business dealings. The best business deals are always a “two-way street”.

We tend to prefer a simple, low-key approach. It’s great to hit “fours” and ”sixes”, but games are usually won by consistently notching up “singles”.

We like to invest in good old-fashioned businesses, that quietly do simple things well – mature businesses, diversified customers, long term contracts, well understood products and business models, high margin, modest growth.

Our reputation is important, so we think carefully about our conduct, play the long game and play it with a straight bat.

It takes courage to “have a crack”.

We are entrepreneurs. We see possibility. We are made from optimism, persistence, self-reliance and hard work.

When you play the long game, having a crack, doesn’t mean being careless – it’s important to understand “which ball to let through to the keeper and which to put over the fence”.

We strive to show leadership in business and our community. We seek to empower people to make it happen. We believe in taking responsibility for ourselves and supporting others in our community to have the same opportunity.

At Straight Bat we recognise that there are 168 hours in the week.

We are responsible for balancing work, family, health, and personal passions. We believe that hard work results in achievement and satisfaction, but there is more to life than work and it’s not all about money.

It’s important to have fun. We try not to take ourselves too seriously.

It’s important to maintain perspective. We look for people who have a balanced approach and who’s company we enjoy – is this someone I want to have a “beer” with?

Our Team

Investment Team

Steve brings 25-years’ experience as a business owner, operator and investor in a broad range of sectors including industrial services, life sciences, manufacturing, banking, resources, media, software & technology, private equity and venture capital.

  • Private Equity & Venture Capital advisor and investor across the UK, USA and AUS

  • Extensive operating experience from small to large venture backed, private and public companies.
  • 28 years experience, involvement in >50 transactions and capital raisings, >$10 billion transaction values
  • McKinsey & Co
  • BCom/B.Sc Melbourne University, MBA Oxford


Steve is a keen fisherman, sailor, golfer, skier and pilot. He believes “we don’t ‘live to work’, we ‘work to live’”.

Rob has operating and finance experience including a deep understanding of debt and equity transactions where he has lead and closed transactions in excess of $5b.  He is a wise and talented mentor for senior managers and business owners seeking to grow sustainable businesses.

  • 20+yrs with Westpac – Head of Westpac’s $200m Direct Equity Fund, Head of Institutional Bank Vic, Head of Private Bank Vic
  • National Head Origination GE Capital Corporate Finance
  • 9 years as Chairman and then CEO of Nationwide Towing


Career highlights include growing Nationwide Towing into 3 states before a trade sale to RACV with substantial value accretion and leading bank funding for Visy’s company transforming acquisition of Southcorp Packaging.

Matt has more than a dozen years of experience as an investment banker, private equity advisor and business executive.

His advisory experience, gained at Goldman Sachs, UBS and KPMG, includes transactions involving the following private equity firms: Affinity Equity Partners, Archer Capital, Bain Capital, Baring Private Equity, Carlyle, EQT, KKR, L Catterton, Mercury Capital, Pacific Equity Partners, PAG Asia, Permira, Quadrant, Silver Lake Partners and TPG.

His experiencing in operating or investing businesses includes:

  • Goldman Sachs Private Equity division
  • AirTree Ventures (venture capital fund)
  • M.H. Carnegie & Co (private equity fund)
  • TEG Ticketek
  • One Cent Flights (digital marketing and rewards platform)
  • Cold Drip Beverages (beverage contract manufacturer)

Richard brings 10 years of diverse experience as both an operator and advisor in investment, strategy, and business operations capacities. Richard has advised clients across a range of sectors including BHP, NBN, Caltex, Telstra, Transfield, and numerous state and federal government departments such as Defence, Health and Education.

Richard’s operating and advisory experience includes roles at:

  • BP
  • Asahi
  • Ernst & Young


Richard believes that regardless of who is on strike, great partnerships lead to long and successful innings.

Yash brings 4 years of experience in corporate finance and investment banking, including roles at Moore Australia, Bletchley Park Capital and Tresvista.

Across his roles, Yash has:

  • advised global private equity funds and investment banks (Michael Dell Capital, Alta Semper, Awad Capital) on mid-market sell-side and buy-side deals across the telecommunications, retail, FMCG and industrials.
  • advised ASX-listed microcaps on capital raisings and M&A, advised private Australian businesses on capital raisings and business sales.


Yash holds a Master of Professional Accounting, Bachelor of Business Administration and is currently pursuing a Graduate Diploma in Applied Finance. Yash believes in the philosophy of playing the long game with long-term people, creating value for all in the process.

Edralyn brings 6 years experience in admin and customer service roles including at a TeleHealth company and an import and distribution company.

Edralyn Rabuya is a graduate of Bachelors of Science in Nursing and is a Licensed Registered Nurse.

Executive chairs in residence (ECIR)

Adam has 20 years of management consulting experience with McKinsey & Company; working across a range of sectors including metals, mining chemicals, manufacturing, telecommunications, retailing, banking and government. He was the managing partner for Australia & New Zealand from 2002 to 2008.

Adam was the Chairman of Aconex (sold to Oracle for $1.6bn) from 2014 until 2017 and is a NED of direct access bond market specialist FIIG.

David is an experienced CEO and Executive Director with deep experience in the consumer products and agribusiness sectors. His current and previous experience includes:

  • President and Chief Operating Officer of Saputo Dairy Division (Australia)
  • CEO and Managing Director of Warrnambool Cheese & Butter Factory Company Limited, overseeing its sale to Saputo Inc.
  • Non-Executive Director of Ridley Corporation and interim CEO
  • Non Executive Director of Dairy Australia Corporation the peak services body to the dairy industry.

Janine is the founder of Boost Juice and part-owner of Retail Zoo, which is the parent company of Boost Juice, Salsa’s Fresh Mex Grill and Cibo Espresso.

Janine is a highly active angel and venture investor. She holds various Directorships including at ASX listed Michael Hill Jeweller.

Janine’s media career includes appearances as a “shark” on the Australian version of the TV show Shark Tank and the sixth season of Australian Survivor.

Advisors

Farrel founded Wingate in 2004 after a successful career as an investment banker, including positions as head of ANZ Private Bank and Group Managing Director of Investec Bank (Australia) Ltd.

Through Wingate, Farrel has been involved in more than 100 deals including both private equity and private credit investments.

Geoff is a co-founder of Flight Centre. Geoff has made dozens of private equity and debt investments, including being the first investor into Boost Juice, which was successfully sold to Riverside Private Equity.

Geoff is an enthusiastic Hawks supporter and served as Vice President of the AFL football club from 2008 to 2013 .

He has extensive philanthropic interests developing affordable housing and supporting disadvantaged kids, including social enterprise StrEat and Reach Youth in Collingwood.

Bill is a serial entrepreneur and private investor. He co-founded Topdeck Travel and Flight Centre. Bill has made a number of significant private equity investments.

He is a director of the Kokoda Track Foundation, providing significant aid for education and health in PNG.

Lindsay is a former Executive Director of Australia’s largest family-owned food services business, PFD Food Services, having worked in various roles in the family business for over 25 years.

Lindsay leads the Smith’s family office and has made a number of private equity investments. Lindsay is a Director in a number of private business investments in the logistics, food manufacturing, building materials industries.

Portfolio

Get in touch

Get in touch and lets talk about how we can do business: