Duncan has attracted leading SME investor AnaCacia to join its share register alongside the management team and Alpin Group that are continuing as investors. Trent Loebel and the management team are all continuing in their current roles and now have access to a broader investor base and board to support their growth plans.
Duncan trades under two main brands:
Parent company Duncan Technologies Pty Ltd (Duncan) owns Aldo Investments (Aldo) which Alpin Group formed in 2015 to acquire Duncan Solutions Australia and subsequently CIC Technology. Over the last three years, the team has grown both businesses through front line sales, business performance improvements and operational integration.
It is an exciting time for technology in this space, given the smart city movement, accelerated improvements in IoT capability and the ongoing evolution of technology and data science to solve a wide range of problems faced by cities and businesses.
Trent Loebel, CEO using PEMS, Duncan Solutions’ core element, that unifies any parking solutions and devices under a unique management system
Trent Loebel, Group CEO, has been with Duncan Solutions for over 10 years and says: “This milestone of attracting AnaCacia is a testament to our loyal customers, staff and suppliers. This is really just the beginning for smart city technology. There are many opportunities to solve numerous challenges faced by our customers by exploiting a range of evolving technologies. With the support of AnaCacia and Alpin, I am confident that we will achieve great things and we look forward to the growth ahead”.
Financial details have not been published but AnaCacia is the majority shareholder in Duncan with interests associated with Alpin Group and Trent Loebel holding material stakes. There is now an even stronger balance sheet for growth initiatives.
Alpin Group focus on working with private businesses, typically with an industrial heritage and an opportunity for growth leveraged by technology. Iain Morris, Co-Founder and Managing Director of Alpin says, “This has already been an exciting journey but we believe the best is yet to come for this investment. Australia boasts a wealth of small and medium businesses that have stood the test of time. At Alpin we love nothing more than working alongside those businesses to see them transition through to their next phase of growth. We look forward to working closely with AnaCacia and the team to keep driving this investment onwards and upwards.”
Doma Group, a founding investor in Aldo, has sold its investment as part of this transaction. Doma Group’s CFO, Ben McAlister, says “This has been a great alternative investment for our portfolio. We believe AnaCacia will be an excellent custodian and partner for this next phase and we look forward to seeing the group go from strength to strength”.
This investment comes out of Anacacia Private Equity III LP which recently closed oversubscribed. Anacacia invests into leading small-medium enterprises (SMEs). Jeremy Samuel, Managing Director of Anacacia Capital said: “We are excited about the opportunity in this growing market with such a talented team. Duncan’s management and Alpin have done a great job building the business over the last few years and we look forward to working with the management team and our fellow directors to continue that trajectory”.