Melbourne-based software integrator, Sable37, is on the market for a new investor as it faces fresh growth and international expansion in countries such as New Zealand, Dubai, India and the United States.
Founded in Melbourne in 2004, the Microsoft Dynamics ISV partner is inviting “suitably qualified investors” with the intention of helping accelerate its growth to come forth, Sable37 global operations and marketing director, Fallon Cryer, confirmed with ARN.
This investor will be a minority partner, meaning that the company is not actively seeking an outright sale.
She said Sable37 has been facing “organic year-on-year growth of about 50 per cent”, and the company’s owners decided a minority investment was the best fit to further build on that growth and expansion strategy.
"To support our trajectory, we are making significant investments in excellent people, facilities, technology and in the development of Intellectual Property (IP)," she said.
"Bringing in an equity partner will help accelerate our solution development in our chosen industries – retail and distribution, home building, food manufacturing, and government."
Cryer added that the business is already in discussions with people that would “make great business partners” and align well to its values and vision.
In addition, the move was also made to boost support for the company’s customers and there will be no alterations made to its operations following the investment, according to Cryer.
“We have no intention to change as a company; we’re simply inviting somebody else to join us.
“As a software provider, we know that customers want to partner with someone who knows their industry and can add value beyond basic software. We believe in the value of IP and in the expertise of our people. We are deeply committed to continued investment to deliver transformational solutions to our customers, that will allow them to better serve theirs," she added.
Sable37 expects the process to be concluded by August and has brought on board KPMG Financial Services to help with the process.
Cryer also confirmed with ARN that KPMG Financial Services has released an information memorandum to prospective investors such as private equity firms and trade players.
Most recently, Sable37 acquired a 50 per cent stake in payroll and HR processing software provider, Payfields, enabling it to resell the Payfields product under a new brand, Xalari, as well as offer the software to its own customer base in Australia, New Zealand, India, and the Middle East.
The company also offers other bespoke applications for the Microsoft Dynamics platform under its Icon365 brand including: Inbound transport management; product lifecycle management; enterprise credit management; and rebates and reductions.