Investment Hub launching soon

As of August 2024 live investment opportunities will be accessible for Henslow investors. Please register your interest below to receive an invitation to launch.

OrderMate

Successful Sale of Leading Hospitality Point of Sale Provider, OrderMate to MSL Solutions (ASX:MSL)

Henslow is pleased to have acted as M&A Corporate advisor to POS provider, OrderMate on their sale to MSL Solutions (ASX:MSL). MSL has acquired 100% of the shares in OrderMate for a consideration of $7.5m ($5.5m cash and $2.0m MSL shares). The transaction provides MSL with an opportunity to scale through acquisition of a leading Australian POS provider occupying a strategic market position.

A mature player in the Food and Beverage POS market, with a deep customer base in Restaurants and Cafes

Founded in 2001 and based in Melbourne, OrderMate enables efficient ordering, transactions and payments for a large number of Australian food and beverage venues. OrderMate has a significant customer base with over 2,400 customers, with a particular focus on restaurant, café and fine dining venues. The businesses products provide a cross-platform software and hardware solutions that lends itself to more complex, higher-revenue operations.

The Highlights

  • $7.5m

    Deal Value

  • $5.5m

    Cash

  • $2.0m

    MSL Shares

  • ASX:MSL

    Acquiror

A partnership with greater scale

To date, no POS provider in Australia has attained significant scale in the current market. Therefore, players are increasingly accepting the need for consolidation. The sale of OrderMate follows the successful sale of Deliverit to Pemba Capital in June 2021, highlighting Henslow’s industry expertise and M&A capabilities in the highly fragmented and competitive Australian POS market. The Henslow team worked with the OrderMate founders and senior management by initially undertaking a strategic review of the overall POS market and OrderMate’s business, reviewing various paths to liquidity including industry rollup, before launching a sale process, sourcing potential buyers and undertaking complex negotiations with MSL (an ASX-listed buyer) which led to a successful outcome for both parties. The transaction adds to Henslow’s strong track record in advising founder-owned businesses on a path to liquidity and helping them realise the value of their life’s work.

"OrderMate initially engaged Henslow to assist with an M&A strategy and were outstanding in their advice and facilitating the actual process itself. The team led by Scott and Anton ultimately resulted in a buy-out by MSL Solutions (ASX:MSL), including retaining an ongoing equity stake – a great outcome for OrderMate shareholders. Never having been down this process before, it was reassuring to know that we had the Henslow team in our corner through each step of the transaction.”

Co-founders of OrderMate, Mark Calabro and Shannon Hautot