It turns out Quadrant isn’t quite done with employment group APM

APM’s exit from the ASX has been a protracted one, with several twists and plenty of private equity interest. Still, it has accepted a $1.33 billion takeover offer from Chicago’s Madison Dearborn Capital Partner and intends to slip off the bourse if shareholders agree to the deal in September.

But not without one more twist – the emergence of Quadrant Private Equity. The Australian buyout giant had been a major APM shareholder between 2017 and 2020, and is now bidding alongside Madison Dearborn.