Adelaide Software Company Energy Exemplar Signs $1.6 Billion Sale to Private Equity Heavyweights

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 58 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 58%
  • Publisher: 90%

Business News

Adelaide,Software Company,Energy Exemplar

Under-the-radar Adelaide software company Energy Exemplar has surprised the market by signing a $1.6 billion sale to a pair of private equity heavyweights. The company, known for its energy system modelling software tool Plexos, has gained international attention and is used by players in the energy market to simulate and predict supply and demand scenarios.

Under-the-radar Adelaide software company Energy Exemplar is the M&A surprise of the year after signing a $US1 billion-plus sale to a pair of private equity heavyweights.

Drayton created Plexos, an energy system modelling software tool, which was picked up in Ireland and started gaining international attention. So Riverside, six years into its investment, Drayton and Co put the business up for sale. They had received inbound interest over the years, and told potential suitors there was a lot more to do in consolidating the industry, and growth left in the tank.

Energy Exemplar has gone one better than most of that list: it has also found an exit for its major backer.The deal is sweetly timed for Origin Energy, which is sitting on a 20 per cent stake in another energy software play, Kraken owner Octopus Energy.While Kraken and Plexos play in different parts of the sector – one is more customer billing and management, the other modelling and simulation – they are both about subscription revenue and the energy sector.

But back to Riverside: Feiglin called it a “textbook deal” for the mid-market buyout fund. Its local team targets under-the-radar Australian and New Zealand businesses that it thinks it can help grow, usually by helping take them offshore or via bolt-on M&A deals.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Imminent Failure of Bid for Origin Energy Demonstrates Upending of Energy MarketThe imminent failure of a bid for Origin Energy highlights the changing dynamics of the energy market and the growing power of Australia's industry superannuation funds. AustralianSuper's position as a major investor is critical to the fate of the vote on the deal. The consortium has a few weeks to decide on a higher price offer.
Source: FinancialReview - 🏆 2. / 90 Read more »