Tim Reed and Andy Gray’s Potentia Capital almost blew it out of the water with Micromine in 2022, when Nasdaq-listed Aspen Technology’s $900 million bid valued the mining software player at 9.4-times money.
But 16 months after the deal collapsed, Potentia’s founders don’t seem to have made any efforts to nail down what could shape up as a marquee exit. Why’s that?
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com