According to the Australian Financial Review, the global private equity firm, Platinum Equity has gained exclusive rights in the auction for the Australian and New Zealand business of OfficeMax.

However, to complete the transaction it will need to be approved by Australian and New Zealand regulators.

AFR says, “OfficeMax has been up for sale through adviser Goldman Sachs with Platinum Equity to have seen off private equity firm Adamantem Capital during the process.”

It is unknown if and when the deal will be completed. 

Platinum Equity bought OfficeMax competitor, Staples in March for an undisclosed sum, it has 32 stores across Australia and New Zealand with a print department in each store.

[Related: Private equity firm acquires Staples]

Platinum Equity is a global private equity firm, with offices in every continent. It focuses on business operations with more than 20 years’ experience acquiring and operating businesses that have been part of large corporate entities.

It owns a majority stake in Sensis, an Australian directories company acquired from Telstra.

OfficeMax has 11 stores in Australia and offers print and print management in each location. 

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