Founded in 2002, Meercat RiskView is a Perth-based software company which provides proprietary risk and assurance software to some of the world’s leading chemical, mining, retail and energy companies including Snowy Hydro, Woodside, Wesfarmers and Transpower.
Octavian was engaged to facilitate a competitive sale process including domestic and international bidders, culminating in the sale to major US software company VelocityEHS in December 2019.
At closing, VelocityEHS had over 500 employees and 18,000 customers worldwide, providing a platform to take Meercat’s software worldwide. VelocityEHS is owned by private equity group CVC.
Situation:
The founders of Meercat spent over 15 years developing and enhancing their proprietary risk management software, taking the business from the founder’s garage to the boardrooms of some of Australia’s largest blue-chip companies. Recognised as domain experts in risk and control assurance software in Australia and New Zealand, Meercat had reached an inflection point in their scaling journey – scale organically or find a strategic partner that could provide rapid market penetration.
Solution:
Meercat engaged Octavian to manage an end-to-end strategic sale process, including:
Preparation
Developing an in-depth understanding of the product, value proposition and ideal strategic partner.
Comprehensive review of the domestic and international marketplace.
Preparation of detailed Information Memorandum and supporting data room;
Competitive Sale Process
Confidential approaches to domestic and international acquirers;
Facilitating technical briefings and product demonstrations;
Assessment of multiple bids
Deal Management:
Formation of legal and financial due diligence support teams;
Data room management and responding to diligence queries;
Commercial negotiations and deal structuring;
Closing support.
Outcome:
Meercat RiskView was acquired by major US software company VelocityEHS on 5 December 2019. This was the first acquisition outside of North America for VelocityEHS and provides Meercat with a platform for rolling‐out its RiskView software on a global scale.
https://www.businessnews.com.au/article/US-software-group-buys-Perth-s-Meercat
