05 Sep 2018
Murray & Co acted as sole financial advisor on the sale of software company Seequent to Accel-KKR.
Seequent provides geological modelling and 3D visualisation software widely used throughout the mining industry globally as well as in the civil construction and geothermal energy sectors (Leapfrog software). The company has 240 employees and offices in 13 countries.
Based in Menlo Park, Accel-KKR is one of the world’s pre-eminent specialist software private equity investors, with over US$5 billion in capital commitments.
The transaction is important for several reasons. It is one of the largest NZ software M&A transactions in history (Overseas Investment Office approval received). In Accel-KKR, Seequent secured a partner of the highest calibre, who can further enhance its growth prospects. The transaction is global cross border.
The transaction involved a partial rollover into the acquiring entity by certain of Seequent’s existing shareholders including Pencarrow Private Equity. Pencarrow is one of NZ’s premier private equity firms and was the largest shareholder in Seequent pre-transaction.