Good evening,

Things are heating up in the accounting sector. Only last week, global accounting firm BDO scored a $US1.3 billion ($2 billion) debt deal from buyout giant Apollo Global Management. Now, locally listed accountant Kelly Partners has called in the bankers at Jefferies Australia to run a strategic review.

Street Talk understands management is trying to close the gap between its market cap and intrinsic value. Kelly Partners is eyeing $100 million-plus revenue this financial year and looking to expand in the US. Sources reckon it has strong prospects in both private markets and on a US exchange.

With Diggers and Dealers coming to a close, Street Talk spotted Grant Thornton’s deal makers distributing a sales teaser for collapsed North Queensland base metals miners Aurora Metals. Final bids are set to be called on September 11.

Elsewhere, Australia’s largest private equity firm is getting into the reverse mortgage market, grabbing a stake in retirement funding provider Household Capital, and pet tech start-up Ilume is trying to rustle up $20 million from investors.

Happy reading,
Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk editors