Financial Review “Ellerston fund buys 35pc stake in tech group CAMMS”
An Ellerston Capital fund has acquired a 35 per cent stake in fast-growing risk and compliance software group CAMMS, which is eyeing a potential public float in the medium-term.
Ellerston JAADE Private Asset Fund, which already has stakes in payments processing group Tyro Payments and aged care disrupter Mable, has aggressive targets of 20 per cent internal rate of return for its investments.
Tyro, with large shareholders including Atlassian co-founder Mike Cannon-Brookes, has been in the spotlight as it prepares for an imminent initial public offering as it seeks to raise $240 million-plus.
CAMMS, which has 260 staff and is headquartered in Adelaide, was previously 80 per cent owned by co-founder Joe Collins, with management and other directors holding the remainder.
Mr Collins said the Ellerston JAADE investment would fund a concerted expansion into the North American market. The company already has 250 existing customers across 20 countries.
Read the full article from Simon Evans, Senior Reporter at The Financial Review