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Seven Group Holdings

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Seven Group Holdings Limited
Company typePublic
IndustryMedia, Mining, Construction, Equipment rental
PredecessorQintex
Seven Network Limited
Founded1991
FounderKerry Stokes (Executive Chairman)
Headquarters
175 Liverpool Street, Sydney
,
Australia
Area served
Worldwide
Key people
Ryan Stokes (CEO)
Warwick Smith (Director)
OwnerAustralian Capital Equity (68%)[1]
Subsidiaries
Websitesevengroup.com.au

Seven Group Holdings Limited (SGH, formerly Seven Network Limited) is an Australian operating and investment group in the media, mining and construction industries.[2]

History

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Seven Network Limited was created in 1991 by receivers in order to bundle together the assets of Christopher Skase's collapsed former business, Qintex.[3][4]

Between 1995 and April 2001, Alan Jackson of Nylex was the non-executive director of Seven, after being asked by Stokes to lead the company.[5][6]

In 2002, Seven Media Group acquired Pacific Magazines. In January 2006, the company partnered with Yahoo! to launch Yahoo!7, a cross-media entity meant to expand the content distribution networks of both companies.

In December 2006, Seven Network Limited shareholders voted to spin off the company's 'old media' assets into a 50/50 joint venture with private equity firm KKR, creating the Seven Media Group.[7]

In January 2008, Kerry Stokes' National Hire Group took over alongside private investors The Carlyle Group the equipment rental company Coates, de-listing it from the Australian Securities Exchange. The hire businesses of Coates and National Hire were merged to consolidate the two largest hire companies in Australia, creating Coates Hire.[8][9][10][11]

On 22 February 2010, it was announced that WesTrac, owned by Australian Capital Equity, Kerry Stokes's investment firm, would merge with Seven Network Limited, and the combined entity was renamed Seven Group Holdings.[12]

On 25 October 2017, SGH acquired the remaining 53% from The Carlyle Group as well as from other minority owners for $517 million.[10] SGH had first invested in Coates Hire, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary.[13][11]

In April 2011, Seven Media Group was acquired by West Australian Newspapers to create Seven West Media.[14] Seven Group Holdings remains Seven West Media's largest shareholder, with a 33% stake.[15] As of July 2021, this stood at 40%.[16]

In July 2021, Seven Group Holdings took 70% ownership in construction materials company Boral.[17] It gained full ownership of Boral in July 2024.[18]

References

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  1. ^ Evans, Michael (17 March 2010). "Revealed: Kerry Stokes's $100m land bonanza". The Sydney Morning Herald. Retrieved 24 October 2019.
  2. ^ "About Seven Group Holdings". SevenGroup.com.au. Seven Group Holdings Ltd. n.d. Retrieved 23 May 2019.
  3. ^ Bartholomeusz, Stephen (11 May 2021). "Kerry Stokes thumbs a well-worn playbook for '$8 billion' Boral bid". The Age.
  4. ^ Release, Press (8 November 2020). "Seven Group Holdings Limited (formerly Seven Network Limited)". NewsnReleases.
  5. ^ "Jackson off Seven board". The Daily Telegraph. 26 June 2001. p. 27. ProQuest 358640428.
  6. ^ Mayne, Stephen (14 January 2008). "The day Alan Jackson lost his cool". The Mayne Report. Retrieved 16 January 2023.
  7. ^ "Seven shareholders approve media spin off". The Age. 23 December 2006. Retrieved 23 May 2019.
  8. ^ Company Overview National Hire Group
  9. ^ Seven Group Holdings Buys Out Coates Hire Sydney Morning Herald 20 September 2017
  10. ^ a b Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  11. ^ a b Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  12. ^ "Seven Network and WesTrac to merge". Sydney Morning Herald. 22 February 2010. Retrieved 5 March 2012.
  13. ^ Seven Group Holdings Coates Hire Acquisition Australian Securities Exchange
  14. ^ Burrell, Andrew (12 April 2011). "Kerry stoked by creation of Seven West Media giant". The Australian.
  15. ^ "Our Investments: Seven West Media". SevenGroup.com.au. Seven Group Holdings Ltd. n.d. Retrieved 23 May 2019.
  16. ^ Seven West Media Seven Group Holdings
  17. ^ Druce, Alex (30 July 2021). "Ryan Stokes named Boral chair, Seven ups board presence". The Sydney Morning Herald. Retrieved 11 July 2024.
  18. ^ Daunt, Adam (4 July 2024). "Seven Group Holdings speak about 'successful' Boral takeover". Quarry. Retrieved 11 July 2024.
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