Direct Capital is pleased to announce the sale of its investment in Max Fashions. Max has been acquired by EziBuy Limited, Australasia’s largest apparel and home décor multi-channel retailer.

This is a very successful outcome for Direct Capital’s investment, with Max producing a gross return of 5 times its original cost from both fully imputed dividends and capital gain from the sale proceeds.

Direct Capital believe, given the future prospects of Max in New Zealand and Australia, this is the best outcome for both Max and Direct Capital.

This sale of Max is a very positive result for Direct Capital and reinforces the business case and the ongoing attractiveness of long term private equity investments in growth companies.