Tag Archives: private equity

RCF Jolimont II fund invests in on-line analysis company Realtime Group

The Realtime Group Ltd says it has completed the sale of a majority stake in the company to global METS sector investor RCF Jolimont Mining Innovation Fund II LP.

Realtime is focused on developing on-line analysers for the mining, power generation and manufacturing industries, with customers in 46 countries relying on its solutions to accurately measure the quality and elemental composition of their product in real time as they are transported on automated material handling systems such as conveyor belts.

It developed its flagship AllScan elemental analyser, which leverages prompt gamma neutron activation analysis (PGNAA) sensors, in 2013. Since its inception, it has grown rapidly to have over 1,000 systems deployed at mining and other operations.

Dr James Asbury, a Co-Founder and current Real Time CEO, explains: “Our purpose built solutions enable decisions to be made based on real-time analysis of materials as they are transported between the mine, mill, trains and ships. Real time, on-line data of material properties that are to be loaded or processed permits timely decisions for optimising the overall process. Proactively managing materials in this way helps our customers to potentially save millions of dollars every year.”

He added: “RCF Jolimont II’s investment in Realtime will inject a wealth of expertise and experience to continue our journey to become the leading solution provider in the global mining industry and beyond. The team behind RCF Jolimont II has a history of success with fast-growth companies including Blast Movement Technologies and Newtrax which should benefit the future development of Real Time.”

RCF Jolimont II’s Andrew Jessett and Lyle Bruce will be joining the Realtime board of directors. Jessett is Vice President, Australasia at RCF Jolimont II.

Jessett said: “As we went through the process of investing in Realtime two things really stood out: the glowing testimonials from their customers, and the importance and value of enabling real-time decisions in the movement of valuable commodities. Realtime’s IoT technology is the premier solution in this space. We are very excited about the critical role it will play in helping customers realise new levels of efficiency in material processing.”

RCF Jolimont II recently also took a significant stake in Rail-Veyor Technologies Global Inc.

PE firm Jolimont on board with indurad radar offering

METS-focused private equity group, Jolimont, has made another investment in the sector, this time putting €4 million ($4.5 million) into RWTH Aachen University spinoff indurad.

Indurad calls itself the global leader in radar-based automation and productivity solutions for mine sites, train loadouts, stockyard equipment and shiploading facilities. Its patented 2D and 3D radar systems are installed at mining operations and ports worldwide to increase ore throughput and minimise downtime and collisions.

Reik Winkel, indurad CEO and co-founder, said: “indurad’s radar solutions remove bottlenecks in the movement of ore from mine to ship to market at a fraction of the cost of building larger facilities.

“Bringing Jolimont on board as shareholders represents a significant step in our strategy to build the company to €50 million in revenue.”

Winkel said the key reason for selecting Jolimont as an investor was their strong network in the mining industry and deep understanding of innovative technologies. Co-Founder Christian Augustin acknowledged the success of Jolimont as an active shareholder in Newtrax, recently acquired by Sandvik, making them “perfect partners” for indurad’s next growth phase.

Jolimont’s Lyle Bruce and Lex McArthur will be joining the indurad Board of Directors.

Bruce is a Partner of RCF Jolimont and was formerly Managing Director of GroundProbe, a leading radar-based rock-slope monitoring provider, from 2003 to 2013. He is Chairman of MineWare, a dragline monitoring software company and Chairman of Blast Movement Technologies, providing solutions that accurately locate ore and waste zones after blasting.

McArthur, a Founding Partner of Jolimont, is also a director of Blast Movement Technologies and is a director of Minnovare, specialising in improving the productivity of underground drilling operations.

McArthur said: “We undertook extensive due diligence on indurad and three things stood out; their best-in-class radar systems, the glowing testimonials from their customers and partners in terms of value delivered, and the high calibre of their engineering and management team.”

indurad was founded in 2008 as a spin-off of RWTH Aachen University, in Germany. It has a team of more than 100 employees globally and offices in Germany, Australia, Canada, USA, Brazil, Chile and South Africa.

Micromine looks to next phase of mining software growth with private equity deal

Australasia’s leading technology-focused private equity firm, Potentia Capital, has taken a large stake in Micromine, as the software solution provider looks to move into a new growth phase.

As part of the deal, Alan Broome AM and Claire Tuder will remain on the board, with Tuder also continuing as Chief Executive Officer. Andrew Gray and Michael McNamara from Potentia Capital will also join the board, while the Advisory Board of John McGagh and Mitch Hooke AM will remain in place.

Even after the deal, the founding Tuder family will maintain significant ownership of the company, Micromine said.

Claire Tuder said: “Micromine is entering a new growth phase so we were seeking a partner to assist us reach our goals whilst respecting our values. Potentia has a strong track-record helping companies like Micromine and I liked their partnership approach.”

Micromine was founded 32 years ago by Graeme Tuder. It provides geological exploration, data management, resources estimation, 3D mine design, planning and production control solutions to the global resources industry from junior explorers to Tier One miners including Newmont, Newcrest, OZ Minerals, MMG and Rio Tinto.

“The company remains at the forefront of innovation with deep machine learning, mixed reality and automation projects underway,” Micromine says.

Potential Capital is a Sydney-headquartered private equity investment firm focused exclusively on technology, tech-enabled services and software businesses. The team is one of the most experienced in the Australian private equity market, Micromine says, having collectively deployed over A$2 billion ($1.44 billion) of capital across more than 10 investments in the technology sector globally.

Andrew Gray, Managing Director at Potentia Capital, said: “I look forward to working with the Micromine team to achieve its vision and to further demonstrate Potentia’s commitment to supporting innovative Australian technology businesses.”

Michael McNamara, Investment Director at Potentia Capital, said through the company’s due diligence, “we have been impressed by Micromine’s track record of innovation, world-class mining software and loyal customer base.”