Live data feed: 10am 18th Jul 2024         Total Business Sales: $523.9 million         ROI On Capital Invested: 28.00%         EBITDA To Owner: $159.4 million         Recent Deals: Automotive Transport Accessories Manufacturing - Safety - Strategic acquisition by Trade Player     |     Agricultural - Automated Feed Systems - Investment by private Home Office     |     E-Commerce, Online Prestige Fountain Pens, Stationery Supplies - Strategic acquisition by private investor

Lloyds Corporate Business Brokers Team


Garry Stephensen  
Managing Director

Garry Stephensen, Managing Director and licensee at Lloyds, is a fully qualified, hands-on registered business intermediary with a wealth of experience to help clients maximise the value of their businesses. Garry started his business life at the age of 24, purchasing the first of several newsagencies, then graduating to much larger business enterprises in the wholesale and building and construction industries and property development.

In the early 1990s, Garry accepted a left-field opportunity to broaden his experience and became involved in the business brokerage industry. Since then he has had extraordinary success negotiating acquisitions and mergers of major businesses, including blue chip public and private national companies and equity groups, and on behalf of high-net wealth individuals.

Garry has strong business interests and experience in the private sale, acquisition and divestment of mid-market businesses in the resources, mining, contracting, import, wholesale, and distribution sectors.

Business assignments have been successfully conducted throughout Australia, from major capital and provincial cities to the business and mining support infrastructure areas in Queensland’s Bowen Basin and north-west (Mt Isa) and in mineral-rich regions around Kalgoolie, Western Australia.

Karen Dado

Karen Dado  
Director NSW

Karen brings more than 30 years of corporate advisory, business development and consulting to company owners, boards and CEOs. She has assisted numerous businesses to position for sale and investment by conducting strategy, performance and risk reviews.

For investors and buyers, she has conducted due diligence, market, and financial assessments. She has prepared information memoranda to support capital raising, mergers and acquisitions, and divestments. Karen's extensive strategic and financial investor networks have resulted in successful capital raisings and sales.  

She is a licensed business broker with extensive corporate advisory and international business development experience and networks, able to assist companies targeting investors and strategic partners, expanding businesses overseas, or divesting. She has extensive health, consumer goods, industrial and technology sector knowledge and solid networks across the industry value chain within Australia and internationally.

Karen spent 15 years with PwC in its London and Sydney offices, advising private and public sector companies, government grant agencies, SMEs, family businesses, and innovative technology start-ups.

 BSc (UNSW); MBA (London Business School); Certificate in Governance and Risk Management (Governance Institute of Australia); licensed Business Broker REINSW.

Geoffrey Tulett

Geoffrey Tulett  
Lloyds Corporate Partner - Mergers & Acquisition Specialist

A highly motivated, dynamic accountant and business consultant, Geoffrey brings a wealth of experience in both Australia and internationally to the Alexander Spencer team.

Originally from New Zealand, Geoffrey holds over a decade of experience in the industry, working in Australia, Asia and New Zealand in a diverse range of industries including international transactions, sport, tech start-ups and ecommerce.

His role encompasses managing the Corporate Finance and International Business teams including capital raising, valuations, transactions and corporate reporting programs.

He has provided support to businesses aiming to secure major contacts, including through creating and implementing new business structures, helping business owners to grow and advance their enterprises significantly. One of his passions and areas of expertise is working closely with Early Stage Innovation Company’s from incubation through to significant market position or exit.

Geoffrey’s business advisory expertise stems from a firm belief that a business owner’s ambitions for their business should work in harmony with their ambitions for life. He works to enable his clients to fully take advantage of their success and helps them to scale and grow their businesses in conjunction with the trajectory of their lives from start up to exit.

In his spare time, Geoffrey is an avid traveller, aiming to visit one new place every year. His childhood on a farm in New Zealand gave him a love of the outdoors and the beach, making him a passionate surfer, golfer and hiker.

Edward Alder

Edward Alder  
Director Victoria

Edward has more than 15 years' experience in M&A. He joined iSelect in 2014 and in November 2015 was appointed Group Executive for Growth. He was previously iSelect’s Head of Corporate Development.

He is Director of www.pointhacks.com.au www.pay.com.au and CEO of several other businesses.

Edward's roles encompass strategy, M&A, corporate development, capital raisings, distressed banking, and working capital management. He has extensive experience in strategic business reviews of key stakeholders.

Before joining iSelect, Edward worked at M&A Partners as a senior member of the corporate advisory team, ANZ Bank, and in various roles at Ernst & Young (now EY) across the United Kingdom, Europe and Australia.

Edward holds a Bachelor of Business (Marketing) from RMIT, a Masters of Marketing from Monash University, and is a member of the Institute of Chartered Accountants of Scotland.

Specialties: M&A, strategy, advisory, recapitalisations, equity raising, debt finance and operations.


Dianne Reynolds  
Research Director and Corporate Broker

Dianne has a degree in communications from Griffith University and extensive professional experience in the private and public sectors.  

Since joining the Lloyds team in 2013, she has led and assisted on several successful transactions in retail, transport, agriculture, IT, finance and education. She is passionate about providing the best service to her clients.

As a registered business broker and research director, Dianne leaves no stone unturned when finding the right buyer for a business, ensuring a smooth, efficient transaction.

Dianne began her career in a boutique marketing firm working directly with business owners, from entrepreneurs on shoe-string budgets to well-established, successful SME enterprises.

In the finance sector, she was in the mortgage division of a big four bank in Sydney. She started in distribution remuneration before being quickly promoted to State Training Coordinator, Third-Party Banking, responsible for training mortgage brokers on the bank’s products, policies and procedures.

In the public sector, Dianne was the assistant to the secretary of a lead Federal Government agency in Canberra. The role exposed her to high-profile negotiations and she was liaising with key players in the transport sector and public figures like ambassadors and state and federal politicians.

Dianne’s keen interest in sustainable business practices led her to complete a Master of Environmental Management at UNSW where she explored economic growth and development, new technologies, renewables, emerging issues, and creating new markets.




Rudolf (Rudy) J Weber  
Lloyds Corporate Brokers - Foundation Director

Rudy is an accountant, a licensed business broker and valuer, and an experienced, hands-on business intermediary. He is the Founding Director of Lloyds Business Brokers, specialising in mid-market mergers, acquisitions and divestments. Having an investment banking, stock broking and manufacturing background, and owning and managing several companies in insurance and business broking, Rudy is uniquely placed to advise corporate and private buyers and sellers in achieving their business goals.

Rudy started his career by winning a scholarship from the Reserve Bank of Australia while studying accountancy and economics at Sydney University. He gained valuable experience in the RBA's investment department, which had sole responsibility for overseeing Australia's monetary policy through interest rates, Treasury bill regulation, and money market and trading bank control.

Rudy then joined a leading stock brokerage, firstly as a trader then an investment adviser. To complete his mercantile experience, Rudy accepted a senior accounting role in a large manufacturing group where, following extensive analysis, he designed and successfully implemented a leading-edge electronic accounting and management system.

Branching out on his own, Rudy formed an insurance brokerage group that, under his leadership, became one of the largest independent Australian-owned brokerages before being sold.

Since 1984, Rudy has been a leading business intermediary, specialising in private mid-market acquisitions and divestments. He has successfully negotiated on behalf of private and corporate buyers and sellers of significant businesses across Australian and internationally.


Kevin L Sutherland  
Director International Business Sales

After completing an enlistment in the US Navy, Kevin earned a Bachelors degree in economics then a Masters in business administration. He founded a turnaround management consulting firm which eventually grew to four offices in three states.

Kevin was appointed to run numerous companies by boards of directors, banks, and financial institutions. Through 1997, he managed or advised more than 40 distributors, manufacturers, and service companies with revenues from $2 million to $185 million.

With his own capital, Kevin acquired and sold four separate national companies. He has first-hand experience in merging companies and forming joint ventures and strategic alliances. Through a private equity fund he founded in 1997 and again through a second private equity firm he co-founded in 2006, Kevin has provided capital in the form of equity and debt to additional companies.

In 2004, Kevin acquired a mergers & acquisition firm which became an investment bank representing middle-market companies with revenues from $5 million to $200 million. The firm has represented more than 1,750 businesses and maintains an in-house proprietary database of more than 6,600 private equity groups, plus banks, financial institutions, hedge funds, public and private pension funds, insurance companies, family offices, master funds, university endowment funds, sovereign wealth funds, other financial asset management firms, and wealthy private investors.

The firm has expanded and developed into an online private exchange for large, privately held companies seeking equity liquidity or debt recapitalisation and subscription-based solutions for microenterprises globally seeking a liquidity event.

Kevin has been published and featured in periodicals and been a guest speaker for trade and industry organisations.

Debora Baker

Debora Baker  
Corporate Advisory Manager

Debora has more than 10 years’ corporate advisory experience in the area of transactions services, risk management, internal and external audit. She has experience working for clients in various industries.

Starting her M&A career as a Consultant in the Transactions Department at PwC Mauritius, Debora has worked on a wide variety of projects, ranging from valuation, DCF financial modelling, feasibility studies to business plans, for clients in diverse industries (sugar, hotel, finance, property and consumables, among others).

In 2019, she joined FTI Consulting Corporate Finance & Restructuring team in the Melbourne office and was involved on several M&A transactions including buy-side/sell-side due diligence, consolidations, distressed and non-distressed sale for clients in the logistics, renewables, technology, aged-care and retail sectors.

Prior to joining Lloyds Corporate Brokers, Debora was an M&A Manager at a small boutique investment firm where she gained exposure to the Australian FMCG and retail sectors.

■     Sell-side advisory services provided to a successful family-owned logistics business based in South Australia

■     Financial due diligence for client acquiring a one-stop independent importer, exporter, wholesaler and distributor of water treatment equipment, components and drinking water systems

■     Buy-side due diligence for a property fund which was conducting a sale and leaseback transaction in the horticulture industry

■     Sell-side advisory – solar farm based in far north Queensland

■     Payroll reviews for clients in retail and aged care industries

■     Divestment of a leading Australian consumer brand in the disposable tableware market

■     Distressed sale - ASX-listed IoT intelligent lighting solutions business offering both commercial and industrial applications

Education: Bachelor of Science (Honours) Finance with Law, Master of Risk Management, Master of Professional Accounting Certification: Chartered Accountants Australia and New Zealand Professional Affiliation: Chartered Accountants Australia and New Zealand (CA ANZ)

Samantha Dixon

Samantha Dixon  
Marketing & Research Assistant

Samantha Dixon    (C.Dec)

Marketing Assistant

Up until 2008 Samantha’s career was focussed within the areas of litigation and personal injury, working as a paralegal at a law firm on the Sunshine Coast, QLD. In this role she created many briefs for counsel and various legal document.

Between 2009 – 2020 Samantha’s career transitioned into the digital and marketing space.  For several years she operated and grew a digital agency as a co business owner.  Later, she worked as a strategic partnership manager for one of Australia’s leading brands, focussing on marketing and PR opportunities.

Samantha joined the Lloyds team in 2021 to assist with the marketing of client’s businesses. Samantha specialises in conducting industry research and managing Lloyds’ online marketing and social media assets involved in the marketing of seller’s businesses.

Brett Plant

Brett Plant  
Lloyds Corporate Partner - Business Valuations Specialist

Brett has more than 30 years experience in corporate valuations, delivering high quality outcomes for clients.

Lloyds Brokers partner with Advisory Partner

Business Valuations Specialist

In the evolution of every business there comes a time when you need to understand the value of the business.

A valuation may be needed:

  • for a transaction, such as sale, capital raising or taking on a partner
  • for tax purposes as part of a restructure or issuing employee incentives
  • to support critical, strategic decision making, such as planning an acquisition or disposal
  • to assist with resolving disputes between shareholders or business partners.

Valuation is a complex assessment and involves professional expertise and judgement. All businesses are unique and face different competitive pressures. The value of any company or asset is intrinsically linked to the future income it will generate and future income streams are generally uncertain.

Valuation requires an in-depth understanding of the asset being valued, the market in which it operates, the company that owns it, and its competitive strengths and weaknesses. It requires careful analysis of financial and non-financial information and assesses other factors, such as legal and regulatory environments.

The AP Lloyds/Advisory Partner team has extensive experience in valuing companies and assets across a range of industries. We have broad sector knowledge derived from both consultancy and executive management experience to determine the appropriate valuation methodology to provide well-informed, insightful, robust and transparent valuation opinions.

Brett has more than 30 years’ experience delivering high quality outcomes for clients. He enjoys working collaboratively with clients to achieve their desired outcomes. Building relationships and developing a deep understanding of clients’ businesses is the backbone of Brett’s service philosophy.


•    Bachelor of Business

•    Master of Commerce

•    Fellow Chartered Accountant

•    Business Valuation Specialist


Sevan Tuna

Sevan Tuna  
Lloyds Corporate Partner - M&A Accountant, Melbourne

An experienced and driven accountant and business consultant, Sevan has been part of the Alexander Spencer team for over 20 years, and a director for over a decade. 

For the entirety of his career, Sevan has been dedicated to shepherding business owners into success, through developing cohesive and sustainable business strategies, seamless financial management and providing an outstanding level of service to his clients. 

Having been involved in family business since his childhood, Sevan has firsthand understanding of the pressures and stresses of running a business. With this knowledge, as well as the expertise developed over his long and successful career, Sevan provides his clients with considered expert guidance on developing their business strategy, formulating goals and implementing an effective business structure. 

Sevan not only ensures that businesses are structured correctly for tax and clients’ assets are protected, but also guarantees that all tax and accounting obligations are handled efficiently for his clients. His main objective is for his clients to be able to completely focus on their business goals, knowing their finances are in his capable hands. 

He is an integral part of the financial success of his clients’ enterprises from start to finish, helping clients grow the value of their businesses exponentially and facilitating many M&A transactions where the combined enterprise value of the transactions exceeded $100 million. 

Sevan plays a pivotal role within Alexander Spencer by overseeing the implementation and execution of the strategic plan of the firm. He also mentors staff within the business, helping them develop and grow as business consultants and accounting professionals. During his tenure as partner, Alexander Spencer has experienced considerable growth, appearing on the Australian Financial Review’s list of Australia’s top 100 accounting firms annually since 2017. 

When he is not consulting, Sevan enjoys spending time at home cooking with his wife and their two children. A passionate Hawthorn and Liverpool supporter, Sevan is also an involved member of his local Armenian community. 

Qualifications Include: 

  • Bachelor of Business (Accounting)
  • Certified Practising Accountant
  • Certified Tax Advisor
  • Licenced SMSF Auditor
Wayne Fischer

Wayne Fischer  
Lloyds Corporate Partner - Agricultural Specialist

Wayne works with the principal of AAAM as an agricultural business consultant. His strong connections in the industry mean that he can readily identify potential targets for a business sale. His work has focused on acquisitions, mergers and divestments, mainly in agriculture, with completions ranging from $2M to $120M. Wayne has a very good understanding of the due diligence, legal and sale processes needed to successfully complete the sale of a business and has experience in dealing with large corporations, family companies and government agencies.

Projects Include:

• Sale of Better Blend Stock Feeds to Riverina
• Sale of Mackay Rural Services to Ruralco
• Sale of BGA AgriServices to Ruralco (WF was Chairman of BGA)
• Agricultural consultant to Nordzucker in their $120m investment in Mackay Sugar.
Wayne has also consulted to several manufacturing businesses including stock feed, which are very process and productivity driven.
In previous roles, Wayne was a general manager for several national and multi-national agricultural companies, focused on improving productivity and profitability in distribution and retail. He was the Manager Customer Services/Distribution Monsanto Group; Divisional Manager Merchandise Primac (Growth $38m to $178m) and had several General Manager positions with Landmark.

This extensive experience will support and assist in identification and curation of prospective buyers and assist in finalising the sale process and achieving a good outcome for clients.

Peter Watkins

Peter Watkins  
Lloyds Corporate Partner - Agricultural Specialist

Peter Watkins is the Managing Director of Australian Ag Advisory & Management (AAAM), offering management services, Australian Rural Property procurement and Agricultural Advisory services across a range of commodities, refer  www.agadvisory.com.au. Peter has 40 years’ practical experience in the agricultural agency, supplies and property sector throughout Australia, achieving effective and practical outcomes for financiers, producers and industry. Through AAAM, he has completed acquisitions, practical research and management of existing Australian farming enterprises.

Peter has built a broad and strong knowledge of most aspects of Australian Agriculture and is well networked across the sector. His particular focus is livestock and asset management. For example, he has been Involved in identifying and procuring large scale property for Australian clients and sourcing, arranging and managing a range of properties with livestock leasing and Agistment on behalf of a company. His clients include International & Australian investors, Australian Financial institutions, Exporters and Australian Farmers.

Peter has most recently built, through both acquisition and greenfield development, a strong rural supplies, livestock and property agency network across four states.

Previous roles include General Manager with Westfarmers Dalgety and Landmark and National Manager with Ruralco Property.

As part of the Lloyd’s project team, Peter will bring his industry expertise and market knowledge to the development of a succinct Information Memorandum and supporting documentation. In addition, his extensive industry contacts and networks, especially across branded beef operators, producers and retailers, adds to the Lloyds’ buyer network to help find the right buyer for Agricultural businesses and associated properties.

Lloyds Corporate Brokers is a Corporate Authorised Representative under AP Lloyds Pty Ltd.
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