(RESEND) Changes loom at Noel Leeming as Warehouse beds in acquisition, looks for synergies

Thu, 11 Apr 2013

(Removes extraneous old material at bottom) April 11 (BusinessDesk) - Warehouse Group is preparing to gear up investment and refresh the strategy at Noel Leeming after bedding in December’s $65 million acquisition from buyout firm Gresham Private Equity. Chief executive Mark Powell acquired the appliance retailer last year at a time when Gresham had been an owner for longer than typical in a private equity investor, having led a buy-out from Eric Watson's Pacific Retail Group in 2004. Noel Leeming had been “severely cash constrained,” Powell...

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