US private equity firm Advent set to acquire Automic Group
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The news: Share registry and investor administration services provider Automic Group agreed to be acquired by US-based private equity firm Advent.
The context: Advent will acquire the group from founding investors the ADBO Group. Other shareholders include Five V Capital and Automic team members with equity.
As of March 2024, Automic Group claimed to be the number one share registry for ASX-listed companies, by number of clients, after acquiring rival Advanced Share Registry.
The company says the acquisition will accelerate its growth strategy “including support for further investment in technology and AI, and plans for expansion into international markets”.
The deal is expected to be completed by the end of 2025, subject to approval.
What they said: “From day one, our big-picture vision was to become a major player in investor administration services in Australia and then look for global opportunities of the next phase of our growth,” Automic Group executive chair Paul Williams said.
“Partnering with Advent marks the next step in this journey. Our leadership team is fully committed to taking the business forward, and we are excited about the future for Automic Group.”
The sources: Automic Group media release, Advent media release
