Capital Raising

Marathon Consolidated Investment Fund

Building world-class Australian businesses, with global capabilities.

I am interested

Building world-class Australian businesses, with global capabilities.

I am interested








A$240 per share



Investment Highlights Company Overview Transaction Overview Team News

Transaction Summary

Marathon Consolidated Investment Fund

  • FUM: ~$10M

  • Fund Type: Close-end

  • Long-term investment fund unconstrained by asset class or geography

  • Inception: 2014

I am interested

Investment Highlights

  • Poised to acquire an undervalued business below its liquidation value

  • Anticipated 58% investment return over the next 12-months

  • Strong financial performance with over $80M of revenues and over $5M of operating profits

  • Proven track record with a 14.8% p.a. 5-year compound annual growth

Company Overview

  • Core purpose is to harness the financial and strategic value of change

    To identify, study, understand, value and create change for the companies in which we invest by providing long-term patient capital and partnering in a constructive manner to support the management teams and boards in creating long lasting shareholder value

  • Investments that we understand

    Our investment strategy centres on our circle of competence and understanding before investing, ensuring informed decisions, and minimising risk

  • Innate ability to identify undervalued investments

    Our distinct expertise allows us to spot undervalued investments, unlocking hidden potential for superior long-term returns

  • Defensive and diversified portfolio of value investments

    Our portfolio is built on a defensive and diversified approach, emphasizing value investments for long-term stability, growth and maintaining profit margins in an inflationary environment

Marathon’s strategy permits investment in the majority of asset classes around the globe.

Our competitive advantage is our long-term orientation and the flexibility across asset classes provided by our uniquely broad investment mandate.

The Company’s portfolio may include a range of types of assets, including listed and unlisted equities; listed and unlisted fixed income securities; REITs; derivatives; commercial real estate and cash.

Marathon Investment Opportunity


$230.67 per share as 30 April 2023




Marathon is a long-term value investment fund unconstrained by asset class or geography,
that invests in a diverse group of undervalued assets which provide an opportunity for superior long-term returns

Fund Type




Management Fee

1.5% per annum of the Net Asset Value of the Company, paid monthly in arrears

Performance Fee

20% of the increase in the Net Asset Value above the High Watermark, paid annually

Minimum Investment



Portfolio – Investee Companies

corp logo

MBL Food & Packaging (formerly the Master Butchers cooperative) is a food and packaging company headquartered in Western Australia and established in 1949

Growth Pillars are; Food Service, Packaging, Blending & Manufacturing, Butchery and Bakery

Growth Targets are $100m in revenue and $5m net profit annually by June 2025

Growth Strategy is to increase earnings through organic and acquisitive growth by improving market share

Marathon’s investment return is 29.2% p.a. since 2015

mbl chart

property Vine logo

Property Vine is a real estate services company specialising in Management Letting Rights (MLR’s), Property Management and Sales, headquartered in Queensland and established in 2018

Growth Strategy is to create an industry-leading accommodation and real estate services ecosystem

12 MLR’s under management with a focus on acquisitive growth throughout Queensland

Marathon’s investment return is 19.5% p.a. since 2018

property chart

National Tyre Logo

National Tyres is a retail, commercial and fleet tyre service company headquartered in North Queensland and established in 2021

Growth Strategy is to purchase and consolidate individual tyre retailers to realise economies of scale in a fragmented market

Marathon has recruited an exceptional management team that is growing profitability

Marathon expects a long-term investment return of over 15% p.a.

national tyres chart

Transaction Overview

Raising A$4.5M at a pre-money valuation of ~$9M for the acquisition of an undervalued business below its liquidation value.


  • Raising A$4.5M
  • A$240 per share
  • A$380 per share forecast 12-month share price (58% uplift)
  • Minimum Investment A$50,000


  • Management
  • Matthew Smith

    Executive Chairman

  • Christopher Rockemer

    Executive Director

  • Lloyd Hirst

    Non-Executive Director



  • May 2021

    MBL Food & Packaging: Successful Share Buyback
    Read more
  • January 2021

    National Tyres: Marathon’s largest investment in North Queensland
    Read more
  • January 2021

    National Tyres: Taking Grip of Tyre Sales
    Read more
  • September 2019

    Property Vine: Strategic Acquisition
    Read more
  • November 2019

    City Property rights snapped up for $7M
    Read more
  • April 2018

    MBL Food & Packaging: Acquiring a controlling stake
    Read more

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    +61 2 9993 4475