Marketing and consulting group Trimantium GrowthOps has listed on the ASX following its $70 million IPO back in November 2017.
The company is now valued at approximately $143 million on a fully diluted basis, with an estimated $95 million market cap.
The IPO was priced at $1 per share and received strong backing from international and strategic cornerstone investors, according to Trimantium GrowthOps.
Trimantium GrowthOps formed in late 2017 as part of an eight-way merger, acquiring AJF Partnerships, 3wks, Digital Moshi, Institute of Executive Coaching and Leadership, jtribe, KDIS, Khemistry and Voodoo Creative.
The firm had planned to debut on the ASX in December last year, but was pushed back until March due to issues with money from a foreign investor clearing on time.
The completion of the IPO brings together the eight businesses' specialities, which Trimantium GrowthOps says will “compromise an entrepreneurial advisory and operations partner for organisations seeking to develop new products, services and growth strategies”.
“This IPO provides GrowthOps with the balance sheet to compete for larger, more comprehensive projects and make acquisitions that will allow the company to offer clients the services they need to grow in today’s competitive global marketplace,” chairman Dominique Fisher says.
The new company forecasts it will generate pro forma revenue of $61.3 million in 2018. It believes over 40% of its revenue for FY17 and 36% ($21 million) for FY18 will come from AJF Partnership.
Trimantium GrowthOps says it is keen to pursue an "evolving and fast-growing business transformation services market".
It says this market is worth approximately $85 billion in Australia and includes the converging industries of management consulting, technology, advertising and creative.
GrowthOps chairman Dominique Fisher believes that while these industries have historically served corporate and government clients on a siloed basis, they are now converging.
“The convergence we’re witnessing is a result of both client demand for a single accountable partner and consumer demand for technology-enabled products and services,” Fisher says.
“The alternative to engaging GrowthOps is for our clients to co-ordinate a myriad of individual specialist firms, many of which aren’t structured to share risk and return with their clients.
“Meanwhile, consumers expect seamlessly integrated products, services, support and engagement, so it only makes sense that organisations have a seamlessly integrated advisory and operations partner to meet those expectations.”
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