Congratulations to Commerce Vision on the sale to private equity firm Potentia Capital.
Brisbane-based Commerce Vision is a fully integrated B2B and B2C eCommerce platform delivering a world class Software-as-a-Service product to household name manufacturers, distributors and retailers. Founded 20 years ago, and now integrating with ERPs including Microsoft Dynamics, SAP, EPICOR, Oracle and Pronto, Commerce Vision delivers vendors the complex tools and features required to make eCommerce operationally seamless while also enabling them to create personable, powerful and mobile friendly sites for their customers.
Commerce Vision completed their majority sale to technology sector private equity firm Potentia Capital, as part of a full competitive process on 1 March 2021. All shareholders of Commerce Vision retained a stake in the company going forward to continue their involvement with the next stage of the company’s journey.
The acquisition will accelerate Commerce Vision’s growth and product development for the Australian and offshore markets.
Similar to our findings in our 2020 Dealtracker, the sale of Commerce Vision reinforces the current theme of technology enabled businesses attracting strong market interest, with robust valuations, particularly for businesses with a built in subscription model to their business model.
A competitive process was implemented to secure the most suitable buyer for Commerce Vision. To facilitate the sale, Grant Thornton acted as lead corporate advisor to the shareholders working alongside corporate strategy consultant Ken Sheridan and Bennett & Philp Lawyers who acted as legal advisors. Potentia were advised by Ernst & Young on transaction services and Johnson Winter & Slattery as legal advisor.
Commenting on the sale, John Farnea, CEO of Commerce Vision, said: “The Grant Thornton team achieved an outstanding result for the shareholders of Commerce Vision. They laid out a clear plan and executed it with precision. Throughout the process - from preparation of the IM, negotiating offers, due diligence and completion - they worked incredibly hard, and their deep experience was invaluable. I am very pleased that we had Paul Gooley, Tom Williams and Jacob Ellis working for us, and I would recommend them to anyone undertaking a similar transaction”
Paul Gooley, National Head of Corporate Finance, Grant Thornton Australia, added: “The sale of Commerce Vision is very much in line with what we’re seeing in the industry and M&A as a whole at the moment. The tech sector has been gaining momentum for many years with COVID-19 being a strong catalyst to the acceleration of technology enablement to almost every sector. This is a classic example of the kinds of deals that are being done in the market place and the kind of technology and companies that are in demand right now. Tech companies – and companies that are enabled by technology – are really dominating Australia’s M&A activity, for both private equity investors and corporate investors alike.”
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