From the Australian Financial Review
The private equity arm of John Wylie’s Tanarra Capital has bought a controlling stake in Perth-based workplace management software company INX Software.
Tanarra has agreed a deal to take a majority position alongside INX founder Garry Beck, who will stay on as executive chairman, and chief technology officer Vaughan de Vos.
The deal is believed to be worth “tens of millions” of dollars.
INX is an integrated workforce management system, predominantly used by clients in the resources and oil and gas sectors.
The company says it has hundreds of customers across four continents and multiple languages, and manages thousands of employee records.
INX is also based in Perth, and is pursuing growth outside of its energy and natural resources roots and into the industrial and infrastructure sectors.
Tanarra is the investment firm founded by senior investment banker John Wylie, and has grown to have about 20 staff.
The firm has more than $1 billion in funds under management across its strategies which include private equity and credit.
It is Tanarra’s first private equity investment after receiving a new batch of commitments together worth $220 million.