Private equity firm Francisco Partners (FP) has sold Mincom Pty Ltd. (Mincom) to ABB Ltd (ABB). Terms of the have not been disclosed.
Neil Garfinkel, a Partner and co-founder of Francisco Partners, says: “The Mincom team has done a terrific job of building a next generation asset management software platform and of extending the leadership position it has established in asset intensive industries over the past 31 years. ABB’s global reach, strong customer relationships and demonstrated commitment to asset management software and solutions leadership make it a superb fit for Mincom’s customers and employees.”
Mincom is a global software and services provider with more than 30 years of experience in providing business solutions to companies in asset-intensive industries – such as mining, defence, energy and public infrastructure – in more than 40 countries around the world. Mincom has approximately 1,000 full-time employees.
Jefferies & Co was Mincom’s exclusive financial advisor in the transaction and Wilson Sonsini Goodrich & Rosati LLP along with Blake Dawson LLP were Mincom’s legal advisors.
