The Lion Rolling Mills
The origins of the Lion Capital name go back to 1885 when Bruce Parncutt’s great grandfather, Abraham Parncutt, along with four partners, formed The Lion Rolling Mills, a manufacturer of bar, angle and tee iron products from its factory in South Melbourne.
The Lion Rolling Mills Limited (later Proprietary Limited) was registered in 1893 in accordance with the Registration of Firms Act 1892, with initial paid up capital of £25,000. By 1925 The Lion Rolling Mills was a substantial business employing 117 workers and using each month 300 tons of scrap metal and 400 tons of BHP Newcastle steel.
The business operated as an independent firm until 1929 when it merged with Victoria Iron & Steel Mills Proprietary Limited of West Melbourne to become Melbourne Iron & Steel Mills Proprietary Limited.
In addition to this early involvement in a merger and acquisition transaction, The Lion Rolling Mills’ near neighbour Australian Iron & Steel was acquired in 1935 by the Broken Hill Propriety Company Limited (BHP) in return for 20% of the shares of BHP. One can only ponder what may have been had BHP’s desire to become involved in downstream iron and steel product manufacturing and distribution been realised, instead, through the acquisition of The Lion Rolling Mills!
Lion Capital was established by Bruce Parncutt in 2000. Since then, Lion Capital has managed and grown a range of in-house investment portfolios as well as providing corporate and strategic advice to a select group of clients. The business was expanded in 2012 when Craig Jensz joined to lead the corporate advisory practice.
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