SuperConcepts, a long-standing division of AMP (ASX: AMP), was built over many years prior to AMP undertaking a strategic review and identifying it as a potential divestment opportunity. Pemba was chosen as the preferred buyer due to our extensive expertise in financial services and track record in accelerating growth for Australian businesses.
THE DEAL
Pemba Capital Partners, a proven investor in market leading financial services businesses with a focus on buy and build partnerships, has invested in SuperConcepts, a leading, techenabled, SMSF administration services and software provider offering end-to-end capability to accountants, financial advisors and SMSF members.
ABOUT SUPERCONCEPTS
SuperConcepts has two core businesses involved in SMSF administration solutions:
- Administration Services – Leading, tech-enabled SMSF administration services provider offering end-to-end fund administration, compliance and processing services
- Administration Software – SuperMate is a leading SMSF SaaS platform providing mission-critical software for accountants and financial advisors involved in SMSF reporting with deep functionality including a fully integrated accounting general ledger, ATO lodgement, document management, customised reporting and compliance workflows
BACKGROUND TO PEMBA’S INVESTMENT
Pemba entered into dialogue with AMP (ASX: AMP) to explore a carve-out of SuperConcepts and identified a well-regarded, highly experienced executive team to partner with. The Pemba team undertook extensive due diligence to understand the SMSF administration market and devise a go-forward strategy to drive growth. The Pemba team developed a deep understanding of the sector and formed a clear plan for SuperConcepts to deliver technology-led solutions, enhance customer outcomes and achieve the vision of simplifying SMSF administration to enable more Australians to control their super in Australia’s growing SMSF market.
THE VENDOR’S PERSPECTIVE
THE FUTURE
Pemba will work with the management team to fund investments in technology, automation and operational excellence as well as implement growth initiatives across software and services. Pemba will also seek to grow SuperConcept’s market share in the core SMSF administration market as well as provide support in identifying bolt-on acquisition opportunities in adjacent areas of the SMSF ecosystem.
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PEMBA AND FINANCIAL SERVICES
Pemba is a leading investor in the Australian and New Zealand financial services sector with investments in Arteva (insurance premium funding), Bepoz and MSL Solutions (hospitality payments), Coverforce (insurance broking), Placard (payments technology) and Bluestone Mortgages (non-conforming mortgages). Pemba is looking to invest in further high-quality financial services providers. If you are considering outside investment and would like to find out more about how Pemba partners with its investee companies to achieve significant growth, please email opportunities@pemba.com.au.
