MYOB ready to float

In February 2009, private equity firm Archer Capital acquired then publicly-listed MYOB for $558m. After a round of improvements, the maker of accounting software was then sold in 2011 for $1.2bn to a new private equity owner, Bain Capital.Now, coming full circle, Bain wants to float MYOB for twice what it paid – a market cap of $1.9bn to $2.3bn – claiming it’s a more streamlined company with significantly improved prospects. Is such a rapid turnaround really possible?Revenue increased 16% in 2014 and MYOB is said to have a 60% to 65% share of the accounting software market for small-medium sized...

In February 2009, private equity firm Archer Capital acquired then publicly-listed MYOB for $558m. After a round of improvements, the maker of accounting software was then sold in 2011 for $1.2bn to a new private equity owner, Bain Capital.

Now, coming full circle, Bain wants to float MYOB for twice what it paid – a market cap of $1.9bn to $2.3bn – claiming it’s a more streamlined company with significantly improved prospects. Is such a rapid turnaround really possible?

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