Advised Brady plc, a leading global provider of trading, risk management and settlement solutions to the metals and commodities sectors, in its acquisition of the commodities business of Viveo Switzerland a part of Temenos providing software for trading of soft commodities, oil, gas, and metals
Goldenhill advises Brady plc in the acquisition of the commodities business of Viveo Switzerland SA from the Temenos Group
Goldenhill’s second transaction advising Brady in a strategic acquisition
LONDON – March 16, 2010 – Goldenhill Technology Advisors today announced that it acted as M&A advisor to Brady plc (“Brady”), in its just announced acquisition of the commodities business of Viveo Switzerland SA (“Viveo Switzerland”), a Geneva-based company and part of Temenos (SIX: TEMN), providing software for trading of soft commodities, oil, gas and metals.
Viveo Switzerland is a leading solutions provider, principally for, soft commodities, bio-fuels, energy and metals. Its technology, client base and deep domain knowledge is seen as a strong addition to Brady’s portfolio of trading and risk technology. The acquisition will increase Brady’s asset class coverage and European footprint, strengthening its cross-market, single-source-solution competency that the market is demanding.
Viveo Switzerland has been in business since 1986 and so brings significant experience in the commodities business as well as a substantial number of clients based in Switzerland, France, Italy and Russia. It has in-depth expertise in contract management, payment, invoicing, logistics, inventory management and treasury, which are all highly complimentary to Brady’s own strengths in commodity trading and risk management.
Gavin Lavelle, CEO of Brady plc, commented, “This acquisition will expand our coverage of diverse asset classes, increase our critical mass in mainland and Eastern Europe and we anticipate will lead to continued growth. The volume of trading in soft commodity futures contracts increased 16% last year with significant growth forecasted for this year, for example in the soon-to-be-traded palm oil contracts. We welcome our enhanced ability to offer solutions with enhanced asset-class coverage in this growing market.”
The acquisition of Viveo Switzerland by Brady is the result of a thorough research, identification, analysis and negotiation process in which Goldenhill assisted and advised Brady from beginning to end. This project with Brady also represents another example of Goldenhill’s ability to execute projects for its clients in the Financial Technology (“FinTech”) sector as well as in other technology market sectors.
Noting the contribution of Goldenhill to the just completed transaction, Gavin Lavelle stated: “Goldenhill continues to work very closely with us to identify, evaluate and select fitting acquisition opportunities, such as this just completed transaction for Viveo Switzerland. Their knowledge of the FinTech sector, presence on both sides of the Atlantic and experience in the M&A process has been of real value to us in this process. Goldenhill’s commitment and perseverance in working with us has never wavered and we look forward to continuing our working relationship with them.”
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity markets. On a single platform Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for refined and unrefined metals. Brady has more than 20 years of expertise in the commodity markets with 60 customers worldwide, including some of the largest financial institutions and mining corporations that depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest miners, refiners and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members. For further information visit: www.bradyplc.com
About Goldenhill Technology Advisors
Goldenhill Technology Advisors represent and advise our technology business Clients in merger and acquisition (M&A) engagements. Our engagements include providing services to Sellers or Buyers in M&A projects in the USA, Canada, UK and Continental Europe with specific focus in software and service businesses. We are an international business with offices in London and California.
March 16, 2010