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Francisco Partners looks to acquire Mincom 19/01/2007. Source: AltAssets. 
 Mincom Limited, a software and services provider to asset intensive industries, and PE house Francisco Partners have entered into an agreement under which Mincom will be acquired by Francisco in an all cash transaction valued at A$315m. Francisco said that they propose to acquire all shares and share options in Mincom via an arrangement that will see Mincom’s shareholders receiving A$8.77 in cash per share and option holders receiving A$8.76 in cash per option.
‘This transaction is exciting news for all of our shareholders, many of whom are current or past employees, allowing them to realize the value of their investment at a substantial premium to the most recently traded share price for Mincom. The board unanimously supports this transaction and recommends that shareholders vote in favor of the acquisition,’ commented Bob Savage, chairman of Mincom.
‘We are long-term investors in global technology companies who have, and are committed to maintaining, leadership in their markets,’ said Andrew Gray, a managing director at Francisco Partners. ‘We have been impressed with Mincom’s products, client base and management team, all of which have contributed to building one of the most formidable Enterprise Asset Management companies in the world. We are excited by this opportunity to partner strategically with the management team and continue building on the success of the business.’
The board of Mincom has unanimously recommended that shareholders vote in favor of the acquisition in the absence of a superior proposal. The deal is subject to customary closing conditions and the transaction is expected to close within the next 90 days.
Mincom Limited is an international company based in Brisbane, Australia, with 25 years’ experience in providing business solutions to asset intensive industries such as mining, utilities, transport, defense and government in 40 countries. The company has 1,200 staff in 18 offices across Australia, North America, South America, South East Asia, Africa, and Europe.
With approximately $5bn of capital under management, Francisco Partners is a technology-focused private equity fund. FP makes majority and minority investments in private companies, public companies, and divisions of public companies. With offices in Menlo Park, California and London, England, the principals of Francisco Partners have to date invested $3bn of equity capital in 25 technology companies.
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