Trimantium Growth Ops

After a couple of delays in completing its $70 million initial public offering (IPO), business transformation services firm Ops made its ASX today. With the IPO priced at $1.00 per share, the company has been valued at $143 million, with a market cap of $95 million.

The cash from the IPO has funded the acquisition of eight businesses that cover various sections of the “entrepreneurial value chain” to create Trimantium Growth Ops, including enterprise cloud and software solutions provider 3wks, development agency jtribe, and graphic design agency Voodoo Creative.

The consolidation of the various businesses, all profitable, allows Growth Ops to provide services including market analysis, leadership development, cloud service, software development, and marketing .

Phillip Kingston, founder and managing director of Growth Ops, said, “Now more than ever, a truly integrated approach is crucial for businesses and governments to overcome the urgent threats, as well as capture the opportunities, posed by technological disruption.

“Our clients want a single, accountable, execution partner spanning creativity, technology and leadership to solve complex challenges and develop new products, services and growth strategies.”

The company stated that $9.8 million in from the IPO has been put aside for the acquisition of a Salesforce integration partner or “similar acquisitions”.

First announced in November with a view to trading commencing in mid-December, Trimantium in January closed the IPO, stating the offer had been fully subscribed and a float was expected on February 9.

However, as Mumbrella reported, the company missed the February deadline as cash from overseas investors had not yet arrived and, in turn, Growth Ops had not been able to settle the offer.

According to Paul Mansfield, managing partner of Growth Ops, the merged entity is ready to now hit the ground running.

“We have maintained positive momentum in building our sales pipeline through organic client wins and cross-selling between the eight businesses. And while each business was operating separately prior to the completion of the IPO, we have already established a positive operating rhythm and culture,” he said.

“In a single company, our capabilities provide a compelling end-to-end solution for the development and execution of new products and services.”

Meanwhile, homegrown taxi booking and rideshare service GoCatch earlier this week announced its plans to launch a $5 million IPO in June ahead of an ASX listing.

GoCatch believes it has the “immediate opportunity to service large portions of wholesale demand” in the taxi, hire care, and rideshare market, while in the medium term plans on “providing alternative wholesale products in competition with participants in the $181 billion car rental market”.

Image: Paul Mansfield, Dominique Fisher, Phillip Kingston. Source: Supplied.



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