“We engaged Octavian as we were exploring growth opportunities and were seeking a partner to help us navigate the territory. From day one they became embedded in our business, establishing a deep understanding of our market and the opportunities. It felt like we had our own M&A team as they guided us through the options, over the milestones and ultimately on to our objective of finding the right strategic partner to take us to the next level.
For any company considering their next step, or leap, I have no hesitation in recommending Octavian.”
Overview
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 technology global. VelocityEHS is owned by private equity group CVC Capital Partners.
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.
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