Timezone Joins Up With Quadrant Equity 

TEEG will be led by Timezone’s current team of Managing Director Scott Blume and Timezone Group CEO Sonaal Chopra. Both Malcolm and Adam Steinberg will remain with TEEG as part of the board overseeing the business together with Chris Hadley and Jonathon Pearce from Quadrant.

Said Malcolm Steinberg: “Over the last 40 years, our business has achieved great success and overseen re-invention and recreation of the brand as we continue to serve our 8 million customers every year. We have a highly experienced management team in place led by Scott Blume and Sonaal Chopra. With Quadrant’s investment, we are excited to take on an experienced and credentialed investor who will help drive the business further and to greater heights.”

TEEG’s strategy is to invest significant growth capital across Australia and Asia to capitalise on the rapid growth they see in the entertainment and early education sectors and in growing consumer spending habits. Private consumption growth across South East Asia is forecast to be over 30% across the next five years and largely focussed on education, entertainment and leisure, the firm advised.

Quadrant’s Exec. Chairman Chris Hadley said: “We are delighted to be partnering with the team at Timezone overseen by Adam Steinberg and Scott Blume. The business fits with the investment strategy of Quadrant of investing in strong brands, experienced management teams and businesses with significant growth opportunities. We intend to deploy substantial capital to grow the business in Australia and throughout Asia.”