Trimantium GrowthOps is headed for the ASX
Entrepreneurial operations partner – Trimantium GrowthOps – is headed for the ASX as part of a $70 million IPO valuing the company at between $142 million and $166 million.
The company is pursuing the rapidly evolving and fast-growing business transformation services market.
Estimated at a combined addressable market in Australia of approximately $85 billion, and with additional addressable markets in Asia, the business transformation services market includes the converging industries of management consulting, technology, and advertising and creative.
GrowthOps Founder and Managing Director, Phillip Kingston, believes that while these industries have historically served corporate and government clients on a siloed basis, they are converging in response to both client demand for a sole adviser and consumer demand for technology-enabled products and services.
“Our clients want advice from a single, accountable provider with entrepreneurial and management consulting skills to identify opportunities, tech and ops skills to build innovative products, and creative talents to reach consumers and gain mindshare,” Mr Kingston said.
“We’re giving organisations a new way to achieve quantifiable revenue and market share growth.”
Australia Post Non-Executive Director, Chair of the Victorian Government’s Innovation Expert Panel, and co-founder, Executive Chair and Chief Executive Officer of Paddl Co, Dominique Fisher joins the Trimantium GrowthOps Board as Non-Executive Chairman.
Ms Fisher and Mr Kingston met while serving as Non-Executive Directors of LaunchVic, the Victorian Government’s organisation charged with building the state’s entrepreneurial and startup ecosystem.
Ms Fisher believes that GrowthOps is well positioned to benefit from key drivers and macroeconomic trends.
“These include existing technologies such as cloud computing, growth in automation, high levels of mobile engagement, corporate and government investment in technology and innovation, and fast-growing Asian markets that currently have limited options for business transformation services,” Ms Fisher said.
GrowthOps lodged its prospectus on 10 November with an offer of between 60 million and 70 million shares at an indicative issue price range of $1.00 to $1.17 per share to fund its ongoing historical growth rates, give the company the balance sheet strength to increase the size of projects it can undertake, and complete the consolidation of eight businesses being acquired through the IPO.