Private equity moves into super admin
Private equity firm Souls has picked up a 35 per cent stake in Brisbane-based superannuation administration software provider Supercorp.
Souls Private Equity Limited has told the Australian Stock Exchange that it has invested $3.5 million in Supercorp, which will be mostly used to provide the company with additional working capital to fund its growth strategy.
Supercorp, which has offices in both Brisbane and Melbourne and employs around 40 staff, was founded around 20 years ago and has established a strong presence in the self-managed superannuation funds administration arena.
Souls describes itself as being a medium to long-term investor “seeking to enhance the performance of existing investments and expand those investments through capital expenditure and value-enhancing acquisitions”.
AUTHOR
Mike Taylor
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