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Anacacia Capital investing in ‘smarter cities’
Thomson Geer has advised private equity firm Anacacia Capital on its majority stake takeover of technology and parking meter group, Duncan Technologies.
Grace Ormsby
Firm: Thomson Geer (Anacacia Capital), Baker McKenzie (Duncan Technologies)
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Deal: Thomson Geer has advised private equity firm Anacacia Capital on its taking over of a majority stake in Duncan Technologies.
Value: Undisclosed
Area: Private equity, M&A
Key players: Thomson Geer’s team was led by partner Dan Kramer, with support from special counsel Jeremy Wilkin and lawyers Gabi Basser, Alain Nguyen, Nicholas Karam and Hansel Tsang.
Deal significance: In its investment in Duncan Technologies, Anacacia Capital aims to capitalize “on a shift to smarter cities,” according to a Thomson Geer statement.
The statement noted Anacacia Capital “typically buys or invests in leading established and emerging SMEs with annual revenue of $20 to $250 million.”
The company provides strategic insight, resources and private capital to help “outstanding management” in growing businesses.
Duncan Technology’s main brands are parking meter and payments arm Duncan Solutions Australia, and CIC Technology, an automating and access management business for digital keys. Two-thirds of Australian councils use Duncan products, with the company’s presence growing in New Zealand and Asia also.
Speaking about the deal, Anacacia’s managing director Jeremy Samuel said “one of the compelling features of this investment is Duncan's very deep relationships with councils and cities and working with them on developing new technologies to reduce congestion and improve traffic flow for retailers and residents.”
