Private equity firm Francisco Partners has exited its investment in Mincom Pty Ltd., selling the company to ABB Ltd. Terms of the deal were not released. Mincom is the maker of an asset management software platform. Jefferies & Co. advised Mincom on the deal.
Francisco Partners (FP), a leading global private equity firm focused exclusively on technology investments, today announced the sale of Mincom Pty Ltd. (Mincom) to ABB Ltd. (ABB). Terms of the transaction were not disclosed.
Commenting on the transaction, Neil Garfinkel, a Partner and co-founder of Francisco Partners, noted, “The Mincom team has done a terrific job of building a next generation asset management software platform and of extending the leadership position it has established in asset intensive industries over the past 31 years. ABB’s global reach, strong customer relationships and demonstrated commitment to asset management software and solutions leadership make it a superb fit for Mincom’s customers and employees.”
Mincom is a global software and services provider with more than 30 years of experience in providing business solutions to companies in asset-intensive industries — such as mining, defense, energy and public infrastructure — in more than 40 countries around the world. Mincom has approximately 1,000 full-time employees.
Jefferies & Co. was Mincom’s exclusive financial advisor in the transaction and Wilson Sonsini Goodrich & Rosati LLP along with Blake Dawson LLP were Mincom’s legal advisors.
About Francisco Partners
Francisco Partners is a leading global private equity firm focused exclusively on investments in technology and technology-enabled services businesses. With approximately $7 billion of capital raised to date, Francisco Partners pursues structured investments in technology companies, targeting investments in private companies, public companies and divisions of public companies, with transaction values ranging from $25 million to over $500 million. For additional information, visit www.franciscopartners.com.