Presser & Co the global specialists in corporate finance advisory to owners of software companies serving the energy, telecommunications and water billing sectors, are pleased to announce the sale of Auckland-based Agility CIS Ltd(“Agility”) to London-based private equity firm SilverTree Equityand Auckland-based Pioneer Capital.
Presser & Co were appointed by the Agility shareholders to conduct an international campaign to target strategic buyers and private equity firms with a track record of familiarity and ownership of energy billing assets. Presser & Co leveraged its network of relationships established over many years in this market segment.
SilverTree Equity, a London-based private equity investment firm specialising in software, acquired Agility, a leading provider of utility customer information and billing system solutions to energy retailers, from Agility’s founders. Financial details of the deal were not disclosed.
Agility was founded in 1998 and is a market leading utility customer information and billing systems software provider for energy retailers in Australia, New Zealand, the Middle East, and the United States. Agility is the market leader in Australia by number of utilities and is supported by over 175 staff. Agility’s software provides energy retailers and new market entrants with a leading end-to-end solution to operate in the energy sector.
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Agility shareholders were advised in the transaction by Trevor Presser, Franz Kiel and Karla Ridgwell from Presser & Co, a global energy billing and customer care M&A boutique, Melbourne, Australia.
Partner Ash Hill and Tom Corkill from Auckland based legal firm WynnWilliamsand partner Tim Zonneveld and Yavnik Solanki from BDO New Zealand advised Agility shareholders on legal and financial matters respectively.