In this business memoir, Scott MacDonald shares the extraordinary true story of how a company, taken over by private equity funds relying on excessive levels of debt, survived against all reasonable odds, as well as the remarkable tale of an ex-factory worker who triumphed at the big end of town.
- Author: Scott MacDonald
- Publisher: Xoum
- RRP: Paperback: $29.99
In September 2007, a real estate fund owned by Morgan Stanley bought The Investa Property Group, one of Australia’s premier property companies, for around $6.5 billion, including about $4.5 billion in debt. It was one of the largest 'take-private' leveraged buyout transactions in Australian history.
Within a year, however, Investa was in serious financial trouble and in danger of collapse. The failure of this investment during the emerging GFC would have threatened several Australian and other global banks.
Scott MacDonald, a seasoned American real estate executive with a history of successful corporate turnarounds, agreed to go to Sydney in June of 2008 for a week and review the Investa situation. Five years later, he returned to the US.