Momentum around the radiology group had recently looked strong after Bain Capital emerged as the frontrunner and teamed up with Macquarie Capital on a bid. Pacific Equity Partners supported by Rothschild and Allier Capital also remained actively involved in the process, creating the appearance of competitive tension. Market sources now suggest the process has slowed noticeably. Price expectations and structure still need work before a binding agreement can land.
Advisers had been hoping competitive pressure would help bridge the valuation gap, especially with multiple heavyweight financial sponsors circling a single asset. Deal insiders instead point to a cooling in sentiment, with the auction yet to generate the decisive momentum that usually precedes a signed agreement. An extended timetable gives bidders more room for due diligence and financing, but it also risks fatigue and can weaken urgency on both sides.
Quantem shareholder sale plans complicate fuel storage deal
Quantem’s proposed sale is also becoming more complex, as shareholders diverge on how much of their stake they actually want to unload.
The liquid bulk storage operator had been flagged for a second-quarter transaction, with early chatter focused on whether petroleum exposure might deter ESG-sensitive investors. Geopolitical tensions in Iran have since constrained global oil supply, throwing renewed attention on fuel infrastructure assets. That shift has meaningfully altered how any potential buyer views Quantem’s earnings profile and strategic value. Stakeholder misalignment on who sells and at what level now directly feeds into pricing discussions.
Quantem positions itself as a leading independent provider of bulk liquid storage in Australia and New Zealand, giving it strategic weight in regional energy logistics. Its network spans 12 locations across the two countries with more than 600,000 cubic metres of storage capacity covering fuel and other liquids. Investors are weighing the attraction of that scale and footprint against ESG mandates and commodity volatility. The evolving macro backdrop means storage assets once seen as problematic can suddenly look more defensive.
