Phoenix Development Fund Limited invests in Spectainer and its Chairman Lindsay Phillips joins Spectainer’s Board
Spectainer, a provider of Simple, Efficient, Affordable & Safe (SEAS) specialised container solutions, is pleased to announce the recent investment in the Company by the Phoenix Development Fund Limited (“PDF”), and that Mr Lindsay Phillips has joined the Board of Directors effective 04 February 2020.
PDF is an investment entity focused on providing growth capital to Australian companies. In December 2019, PDF became a significant material investor by subscribing for common shares in the Company.
Spectainer’s Managing Director Nicholas Press said “We were already thrilled with receiving an investment from the Phoenix Development Fund, but to also confirm Lindsay’s appointment to the Board is a great result. Lindsay has invested in and supported many successful early stage companies, across multiple sectors. His knowledge and experience are broad and the value to the Company going forward will be tremendous.”
Mr Phillips said “We are excited to be involved with Spectainer. When I first saw the Collapsible Economic Container – COLLAPSECON – I immediately recognised the system’s potential, but more importantly I realised the uniqueness of the solution”.
Mr Phillips has been involved in private equity for 33 years, commencing in 1987 with M.J.H. Nightingale & Co. Limited in London/New York and from 1995 in Australia. His experience includes 7 years (1980-87) with Price Waterhouse. He subsequently worked in the United Kingdom, Europe, USA and Australasia including five years as Managing Director of Lazard Australia Private Equity between 2007 and 2012.
In addition to being Chairman of PDF and its associated investment firm Nightingale Partners, Mr Phillips currently serves as a Board Director on the majority of the two firms’ investee companies. For more information, please visit http://nightingale.com.au.
Mr Press further stated that “Lindsay is a great asset for the Company as we commence our market growth phase. It is fantastic to have someone of Lindsay’s calibre involved.”