Technology specialist private equity firm Potentia Capital is one of “multiple parties” in discussion with environmental consulting and software company Envirosuite (ASX: EVS) according to a 13 June announcement by the company.
Envirosuite said some of the parties contemplated a change of control for the company were their discussions to progress but, so far, no transaction terms had been entered into and there was no certainty that a formal proposal would be forthcoming or that any transaction would result.
Envirosuite added that, as stated in an address to the company’s 2023 annual meeting in November, board chair David Johnstone remained committed to an orderly transition of the position to “a suitable successor”.
North Sydney-based Envirosuite claims to offer the world’s most advanced environmental intelligence platform for monitoring emissions. The company’s software is used to monitor industrial emissions, odour from water treatment processes, noise and vibration from mining operations, and the environmental effects of airport operations, all in real time.
On 24 April, Envirosuite reported it had achieved $2.9 million of new sales in the third quarter of the 2024 financial year. Total annual recuring revenue (ARR) increased 11.4% to $62.6 million.
The company said it remained funded to pursue sustainable growth in its focus sectors and had no plans to raise further capital to fund organic growth.
Image: Envirosuite provides noise and vibration monitoring technology for mine sites.