Processing timeline
20
days
Acquirer(s)
OVERWATCH BIDCO PTY LTD ACN - 695 739 970
Target(s) or Vendor(s)
FTP GROUP HOLDINGS PTY LTD ABN - 82 626 217 614, FAARM BIDCO PTY LTD ACN - 695 834 390, FTP Solutions Inc BN - 770283133, FAARM SOLUTIONS PTY LTD ABN - 90 660 811 567, YARN MESH PTY LTD ABN - 83 660 812 788, YARN MESH BIDCO PTY LTD ACN - 695 835 039, Faarm Solutions NZ Limited CN 8033618, FAARM HOLDCO PTY LTD ACN - 695 827 411, YARN MESH HOLDCO PTY LTD ACN - 695 828 061, FTP TECHNOLOGIES PTY LTD ABN - 33 613 149 232, FTP SOLUTIONS PTY LTD ABN - 91 156 293 346, Yarn Mesh NZ Limited CN - 8033621, FTP Construction Inc BN - 706188802
Other parties
FIVE V CAPITAL PTY LTD ABN - 29 162 193 928, Five V Horizons Pty Ltd ACN - 665 223 192, Five V Frontier Fund UGP1 Pty Ltd ACN - 677 413 633, BEACON TOPCO PTY LTD ABN - 70 682 992 561, OVERWATCH HOLDCO PTY LTD ACN - 695 739 916
Private equity firm Five V Capital, via Overwatch BidCo Pty Ltd, proposes to acquire a majority of the issued shares in FTP Group Holdings Pty Ltd. The FTP Group provides network monitoring software for the global mining industry and agricultural software and remote connectivity hardware for the agricultural sector.
Five V Capital Pty Ltd ( Five V Capital ) is an Australian-incorporated private equity and venture capital firm with headquarters in Australia and New Zealand. Five V Capital manages a number of Five V funds, including Horizons Fund and Frontier Fund. Horizons Fund and Frontier Fund are investment funds that pursue a strategy of investing in private mid-market businesses. Five V Capital and an incorporated company that is wholly owned by Horizons Fund and Frontier Fund, Overwatch BidCo Pty Ltd, propose to acquire the majority of the issued shares in FTP Group Holdings Pty Ltd and its subsidiaries (the FTP Group ) from the existing shareholders of FTP Group Holdings Pty Ltd (the Acquisition ). FTP Group is based in Australia, Canada and New Zealand and operates under the business names ‘FTP Solutions’, ‘Faarm’ and ‘Yarn Mesh’. FTP Solutions is a provider of integrated network and operational monitoring software to the global mining industry. Its flagship product, ‘IMS’, is a hardware agnostic software tool designed to monitor and visualise the network and operations of mine sites in real-time. IMS allows its users to quickly identify and resolve network issues that could result in operational downtime. Faarm and Yarn Mesh operate in the agricultural sector. Faarm is a software platform that aggregates disparate farm data (e.g. water usage, fertiliser, soil quality, weather and livestock metrics) into a single interface. Yarn Mesh designs and manufactures long-range mesh networking hardware that delivers connectivity across remote environments.