MSL Solutions seeks $5 million ahead of ASX listing

MSL Solutions, major contributor to Australian Golf with their MPower platform, GolfLink, Micropower and iseekgolf, makes the national press with their ASX listing aspirations.

One of Australia’s largest software services providers to sporting and private clubs, MSL Solutions, is raising $5 million to facilitate an international expansion, ahead of an ASX listing in the next 12 to 18 months.

The company, which is on track to post $12 million in revenue this financial year, has about 600 clients, including 50 per cent of Australia’s top yacht clubs, 30 per cent of the top golf clubs and 70 per cent of private clubs such as the Melbourne club and the Athenaeum Club.

Chief executive Craig Kinross said it would raise the $5 million from its current base of 91 shareholders, who are high net worth individuals, and for the first time will approach some venture capital firms.

“It will go towards two things – retiring debt from prior strategic acquisitions and the second half will go towards growth acceleration projects, primarily to grow our market share,” he said.

“We see being a listed vehicle as a good vehicle to accelerate our growth internationally. We have a few partnership opportunities into the UK, Europe and Asia. We also have potential for a couple of acquisition opportunities in those markets as well, as part of a listing.”

The company has not decided if it wants to pursue an initial public offering, or a backdoor listing.

MSL provides cloud-based and on-site software services to clubs through an open platform environment, allowing it to integrate with a number of other services. It also has a business analytics platform and has connections to media channels.

As well as clubs, it has recently expanded into universities and retirement living villages, which also have a focus on members.

Source: Australian Financial Review