Potentia pounces on Storypark | Future Group mulls IPO | Symal’s IPO raise

Good evening,

Potentia Group’s young dealmaker Amit Chand is demonstrating his value to the mid-market software and technology specialist, swooping on global early childhood edtech Storypark and its $10 million annual recurring revenue.

Street Talk understands Potentia has emerged victorious in the RBC Capital Market-led auction, first revealed by this column in July. Expectations were that RBC would target a cashed-up North American backer, given Storypark’s ambitions to accelerate expansion in the US and Canada, but Potentia carried the day, adding the edtech to its technology-focused portfolio.

Street Talk understands co-founder Jamie Macdonald will stay on with the 13-year-old business after the acquisition and partner with Potentia to implement his aggressive North American growth strategy which is forecast to lift its annual sales to $50 million.

Future Group’s quarterly update showed its investors what the group’s numbers look like without the noise of acquisition costs, cost-cutting measures and a hefty marketing budget. The group reported $7.3 million underlying EBITDA and $21.6 million revenue in the first quarter of financial year 2025.

A sharp sell-off in consumer staples and utilities stocks dragged the Australian sharemarket lower on Thursday.

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