QUBE acquired by MACQUARIE
Context
The transaction involves the acquisition of Qube Holdings Limited by a consortium led by Macquarie Asset Management, comprising MAM managed funds and co-investors, including UniSuper and Pontegadea. The consortium will acquire all of the shares in Qube by way of a scheme of arrangement, with Qube shareholders receiving cash consideration for their shares. The transaction is subject to customary conditions and regulatory approvals, including from the Foreign Investment Review Board and the Australian Competition & Consumer Commission. The strategic rationale for the transaction is driven by the importance of robust and resilient supply chains in Australia and the Asia Pacific region, with the consortium seeking to support Qube’s world-class management team in driving further growth and resilience in the business. The transaction is expected to provide a platform for Qube to continue its evolution, while maintaining its strong track record of enhancing supply chains and delivering outstanding customer service.
QUBE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).
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Target
Qube Holdings Limited is Australia’s largest provider of ports and terminal infrastructure assets, supported by a 10,000-strong workforce. The company operates a transport and trade network that handles an array of goods and services, including outbound grain and cottonseed shipments. Qube has a strong track record of investment in supply chain infrastructure, security and resilience, including at Moorebank Logistics Park and Patrick Terminals. The company’s efforts in decarbonisation and digitalisation deliver significant sovereign supply chain capability at a time of rising trade demand and regional population growth. Qube’s operations span across 200 sites in Australia, New Zealand, and South-East Asia, as well as new opportunities across the Asia Pacific region, providing a comprehensive range of services to its customers.
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Historical Financials (AUD)
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REFERENCES
Valuation range: EV 3b - 100b AUD
Revenue range: 2.5b - 5b AUD
EBITDA range: 450M - 900M AUD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: qube
Acquirer: macquarie