Latest News

Back to Latest News back

 

MSL Solutions raises $16 million ahead of public trading

MSL Solutions raises $16 million ahead of public trading
November 18, 2016

Sport and venue software company MSL Solutions has closed a $16 million capital raising exercise in advance of an initial public offering (IPO) on the Australian Stock Exchange in the first half of 2017.

The Brisbane-based firm had previously planned to raise $5 million in a pre-IPO round and completed that round in late March, however, it sought further funds in order to acquire British hospitality software provider Verteda and golf tournament software firm Golf Box.

Commenting on the capital raising MSL Chief Executive Craig Kinross told the Australian Financial Review “in March we were looking at how to enter international markets and we’d had some long term partners in that space who integrate our technology and understood their customers very well.

“It made sense for us to work with them and by acquiring these businesses it lets us go into international markets with a lower risk strategy. We’re able to bring the companies together in a very complimentary way.”

In the latest funding round MSL has brought on board four institutions – Acorn Capital, Regal Funds Management, Ellerston Capital and Eight Investment Partners – and it had strong support from its existing shareholder base of 120 high net worth individuals.

MSL provides cloud-based and on-site software services to clients across the leisure including the MCG and ANZ Stadium, more than 50% of Australia's yacht clubs and large market shares among golf clubs and private clubs such as the Melbourne Club and the Athenaeum Club.

With more than 600 clients, MSL has also expanded into universities and retirement villages, and also supplies business analytics platform and connections to media channels.

Through the listing in the first half of next year it will seek another $10 million, but unlike most technology companies that raise a relatively modest amount of capital through the initial public offering, the business already has substantial revenue.

MSL recorded about $12 million in revenue this financial year and with the acquisitions Kinross said the firm was now tracking toward $35 to $40 million in the 2019 financial year.

In addition to the recent acquisition of UK-based Verteda, which provides a food and beverage hospitality platform to stadiums, Golf Box provides complimentary services to MSL and it is intended to leverage cross-selling opportunities with their strong client bases.

Kinross added "the next 12 months are going to be a very exciting time, but we're under no illusions about the effort required to ensure these companies are successfully transitioned into the group.

"For the customers it will be business as usual and we won't look at major changes to the staffing or products, we want to add cross-selling opportunities across the markets. One of our MSL executives will also relocate to the UK, as well as a mergers and acquisitions manager... to ensure a smooth transition."

The company will use the money it will raise through listing to further enhance the platform and position the company to be a market leader in the sports clubs space globally, with Kinross tipping the market to undergo a period of consolidation, which will result in a focus on better industry standards.

Click here to read the Australian Financial Review’s article.

Click here to contact MSL Solutions via their entry in the Australasian Leisure Management Supplier Directory.

Images: Craig Kinross (top) and MSL access at the MCG (below).

3rd November 2016 - HOSPITALITY SOFTWARE PROVIDER VERTEDA ACQUIRED BY MSL SOLUTIONS

3rd February 2016 - MSL SOLUTIONS ACQUIRES INFOGENESIS AUSTRALIA

4th February 2015 - MELBOURNE CRICKET GROUND TO TAKE STADIUM TECHNOLOGY AND FAN ENGAGEMENT TO NEW LEVELS

21st February 2014 - MSL SOLUTIONS LIMITED ACQUIRES GOLF LINK PARTNERS


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Digonex

Digonex is a leading provider of customised dynamic pricing solutions to clients in arts and entertainment, sport, attractions, cultural institutions and retail sectors. Digonex’s technology is…

read more

Attractions / Entertainment / Sport / Technology / Ticketing

 
 

METRA Australia

METRA Australia is your innovation partner for smart electronic locking, Access Control solutions and cashless payment systems to suit all types of leisure facilities.  Our team’s…

read more

Aquatics / Attractions / Fitness / Recreation / Security

 
 

SYNERGY FITNESS

The Calgym/Synergy group has had a long and proud history since 1976 as world leaders in the innovation, design and evolution of commercial strength and conditioning equipment. The Synergy group was…

read more

Fitness / Technology / Wellness

 
 

GreeneDesk

Track. Engage. Retain GreeneDesk is a suite of cloud based software solutions helping health clubs, leisure centres and swim schools to effectively track progression, improve customer engagement and…

read more

Aquatics / Billing / Education / Fitness / Technology

 
 

SOLARWISE NSW DOLPHIN TECH

Solarwise NSW / Dolphin Tech were the first and are the largest Dolphin dealer in NSW with a full service facility and full range of spare parts "on the shelf". We also provide on site…

read more

Aquatics / Venues

 
 

PRIAVA

About Priava's Technology -  Priava is a cloud-based and centralised venue and event management system aimed at venues of all sizes. With its familiar and easy-to-use web interface, the…

read more

Attractions / Billing / Entertainment / Events / Technology

 
 

Crystal Pools

Crystal Pools has a solid history of performance on a wide variety of government and commercial projects and is the name behind many of Australia’s most innovative and ambitious aquatic…

read more

Aquatics / Design

 
 

Clubware

Clubware’s online gym software is not your run of the mill management system. It has been carefully designed to incorporate all the elements that a fitness club would need. How did we do that?…

read more

Access / Billing / Fitness / Recreation

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business