MICROMINE to Grow with Potentia Capital
For release 18 December 2018
PERTH, Western Australia, - MICROMINE®, a global leader in software solutions for the entire mining value chain, today announced Potentia Capital, Australasia’s leading technology-focused private equity firm, had invested a majority stake in the business. The founding Tuder family will maintain significant ownership of the company.
Alan Broome AM and Claire Tuder will remain on the MICROMINE board. Claire Tuder will also continue as Chief Executive Officer. Andrew Gray and Michael McNamara from Potentia Capital will join the board. MICROMINE’s Advisory Board of John McGagh and Mitch Hooke AM will also remain.
MICROMINE was founded 32 years ago by Graeme Tuder. It provides geological exploration, data management, resources estimation, 3D mine design, planning and production control solutions to the global resources industry from junior explorers to tier one miners including Newmont, Newcrest, OZ Minerals, MMG and Rio Tinto.
The company remains at the forefront of innovation with deep machine learning, mixed reality and automation projects underway.
POTENTIA CAPITAL is a Sydney-headquartered private equity investment firm focused exclusively on technology, tech-enabled services and software businesses. The team is one of the most experienced in the Australian private equity market having collectively deployed over $2 billion of capital across more than 10 investments in the technology sector globally.
"MICROMINE is entering a new growth phase so we were seeking a partner to assist us reach our goals whilst respecting our values" said Claire Tuder, CEO of MICROMINE, “Potentia has a strong track-record helping companies like MICROMINE and I liked their partnership approach.”
Andrew Gray, Managing Director at Potentia Capital said "I look forward to working with the MICROMINE team to achieve its vision and to further demonstrate Potentia’s commitment to supporting innovative Australian technology businesses."
“Through our due diligence we have been impressed by MICROMINE’s track record of innovation, world-class mining software and loyal customer base.” said Michael McNamara, Investment Director at Potentia Capital.
“We are excited to be partnering with the MICROMINE team and the Tuder family in MICROMINE’s next phase of growth."
PWC and Minter Ellison advised MICROMINE during the process and Johnson Winter & Slattery, Herbert Smith Freehills, PWC and Partners in Performance advised Potentia Capital.
MICROMINE products are used by mining companies worldwide to solve complex issues and deal with their operational challenges. Its solutions include: Micromine®, a comprehensive and easy to use exploration and mine design solution, with integrated tools for modelling, estimation, design, optimisation and scheduling; Pitram®, a fleet management and mine control solution records, manages and processes mine site data in real-time. As a scalable solution, it is suitable for underground and surface mine construction, development and production; and Geobank®, a secure and flexible data management system the delivers the best of geological data management capabilities in any environment.
For more information, visit www.micromine.com .
Potentia is Australia’s leading private equity investment firm focused exclusively on technology, tech-enabled services and software businesses. Our team is one of the most experienced in the Australian private equity market having collectively deployed over $2 billion of capital across more than 10 investments in the technology sector globally. Potentia principals have been leading private equity investments for over two decades whilst having operated in the Australian private equity market for over ten years and are amongst Australia's most respected and awarded private equity principals.
The team has a strong track-record of successfully partnering with management teams to drive business transformation and growth in the technology, tech-enabled services and software sectors whilst spanning the full range of economic and business cycles.
In September 2018 Potentia acquired PeopleStreme HR. in January 2017 Potentia acquired NGA HR’s ANZ payroll business and in May 2015 the team acquired Talent2’s payroll software and services business which we carved out and renamed Ascender. Prior to that Potentia principals drove significant value creation at MYOB. MYOB, ANZ’s leading accounting software company, was privatised for A$560 million in early 2009 and sold to Bain Capital for A$1.2 billion in 2011 following a significant 2½ year business transformation. Potentia invests in transaction values ranging from $50 million to over $300 million, where the firm's deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Potentia, please visit www.potentiacap.com