Thomson Geer has advised Private equity firm, Anacacia Capital, on a deal that has seen Anacacia take out a majority stake in technology and parking meter group, Duncan Technologies, allowing Anacacia to capitalise on a shift to smarter cities. Duncan’s main brands are parking meter and payments arm Duncan Solutions Australia, and CIC Technology, which automates and manages access to digital keys.
Anacacia’s managing director, Jeremy Samuel said: “One of the compelling features of this investment is Duncan’s very deep relationships with councils and cities and working with them on developing new technologies to reduce congestion and improve traffic flow for retailers and residents.” Two thirds of Australian councils use one or more of Duncan’s products, and the company also has a growing presence in New Zealand and Asia.
The Thomson Geer team was led by partner, Dan Kramer and he was supported by Special Counsel Jeremy Wilkin and Lawyers Gabi Basser, Alain Nguyen, Nicholas Karam and Hansel Tsang.
Anacacia Capital typically buys or invests in leading established and emerging SMEs with annual revenue of $20 to $250 million, providing strategic insight, resources and private capital to help outstanding management grow their businesses.
For more information, click here to read an article about this transaction published by the AFR.