Commander shortlist down to three

Commander shortlist down to three

Receivers say sale on track to meet end of October deadline

Three potential buyers remain in the running for Commander, according to sources

Three potential buyers remain in the running for Commander, according to sources

Just three buyers remain in the running for embattled listed integrator, Commander (ASX:CDR), according to industry sources.

Several sources close to the company told ARN that Telstra, Optus and an unnamed private equity firm are now negotiating with Commander receivers, McGrathNicol, to pick up the telco and managed services components of its business.

Sources claimed there had also been talks of a management buyout, which didn't eventuate.

A spokesperson from McGrathNicol was unable to confirm or deny the names and number of the sales shortlist at the time of going to press.

McGrathNicol representatives, Peter Anderson, Chris Honey and Joe Hayes, were appointed receivers to Commander on August 7. Since then, McGrathNicol has been running the company while looking for potential buyers.

The receivers are looking to sell the Commander business in two parts: Its managed services arm and its telco business including the Commander Centre national franchise network.

In September, McGrathNicol announced the list of potential buyers was down to 10 after receiving 150 expressions of interest.

The sale was expected to be completed by the end of October. The McGrathNicol spokesperson said it was on track to meet the deadline.

Commander Centre Cheltenham Victoria owner, Travis Moore, said business had been quiet and difficult since receivers were appointed. He was advised an announcement about a sale would be made within days. There are 33 franchises across Australia.

“We’re just keeping going and will make a decision once we know who the new owners are,” Moore said.

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