Advent International is assessing offshore growth options for Automic following completion of its $725m acquisition of the share registry, technology and fund services provider, according to a report by Financial Review, as the firm makes new appointments to the company’s board.
Beau Dixon, Advent’s head of Australia and New Zealand, says the ANZ market offers “significant upside” across registry services, employee share plans, shareholder analytics and fund administration. He adds that Automic’s technology is designed for export and that the board will consider the sequencing of international expansion.
The firm has also announced new appointements to Automic’s board. Former Woolworths and Telstra director Maxine Brenner will be the new chair, with Omnia Capital chairman Mark Lazberger and Modern Star chief executive Mal McHutchison also joining as independent directors. Brenner says the board will focus on customer outcomes, technology investment and product innovation as it accelerates the company’s growth strategy.
Automic supports more than 1,400 companies and funds. Its clients include Kogan, Pinnacle, and Boss Energy.
