Business transformation services firm Trimantium GrowthOps plans $70 million ASX debut
Business transformation services firm Trimantium GrowthOps plans to list on the ASX through a $70 million IPO, which will put the company’s value between $142 million and $166 million.
According to its prospectus, the company is offering between 60 million and 70 million shares, priced between $1.00 and $1.17 per share.
The IPO will assist GrowthOps in acquiring eight businesses that it stated will each bring “unique and complementary” skills key through the “entrepreneurial value chain”, including enterprise cloud and software solutions provider 3wks, development agency jtribe, and graphic design agency Voodoo Creative.
The company looks to help corporates and public sector clients grow and adapt through the provision of services including analysis of market threats and opportunities, leadership development, change management training, cloud services, software development, system integration, positioning and brand strategy, and marketing communications.
Founder and managing director of GrowthOps, Phillip Kingston, also founder of investment firm Trimantium Capital, said the business transformation services market is seeing the converging of once-siloed services, such as management consulting, technology, and creative, and the firm is looking to take advantage.
“Our clients want advice from a single, accountable provider with entrepreneurial and management consulting skills to identify opportunities, tech and ops skills to build innovative products, and creative talents to reach consumers and gain mindshare,” he said.
“We’re giving organisations a new way to achieve quantifiable revenue and market share growth.”
Founded earlier this year, the acquisition of the eight businesses, all profitable, will see GrowthOps expand to 14 offices and 270 staff across Australia and Asia.
Joining the company’s board as non-executive director is Dominique Fisher, non-executive director of Australia Post and chair of the Victorian Government’s Innovation Expert Panel, while former deputy CEO and CFO of eChoice Limited, Dustine Pang, has joined as CFO.
“GrowthOps will also include several boutique solutions providers with a strong execution focus and unique service offerings. Together, their capabilities provide a compelling end-to-end solution for the development and execution of new products, services and growth strategies,” he said.
Melissa Field, former EY Executive Director, has also joined the board as a non-executive director, while entrepreneur and investor Paul Mansfield has come on as managing partner and Kait McCann, having previously worked at JP Morgan and SpaceX, has joined as head of investor relations.
The company is forecast to generate pro forma revenue of $61.3 million, pro forma EBITDA of $14.3 million, and pro forma NPATA of $9.8 million, in financial year 2018.
Image: Dustine Pang, Kait McCann, Paul Mansfield, Phillip Kingston, Dominique Fisher. Source: Supplied.