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.
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.
