FINH works Closely with Scanning Systems Australia to Complete Acquisition

11th March 2011

Scanning Systems Australia Acquired by Metcash

Brisbane based Family Office, FINH, is pleased to announce one of their family business clients, SSA Holdings Pty Ltd (trading as Scanning Systems Australia or SSA)  has signed  a landmark deal  and accepted an acquisition offer  from Australia's leading  national grocery, liquor and hardware marketer and wholesaler, Metcash Trading Limited (Metcash).

David Harland, Managing Director of FINH , has worked closely with SSA’s  Managing Director David Hagen  to finalise this transaction that represents the result of well researched strategic and succession planning on behalf of the Company, the Hagen family and the senior executives of the company. 

SSA is a Brisbane-based Point of Sale (POS) software and retail technology company specialising in retail management systems for the independently owned grocery and petroleum industries. The business  was established in the early 1990’s by David  and Heather Hagen and grew  into a strong and vibrant point of sale  technology company with staff of more than 50 across  4 Australian cities.

David and Heather Hagen had considered various succession options. When they aligned the family needs with the strategic direction required for the business it was clear that the Metcash option  was the best fit. David Harland from FINH has over 20 yrs experience in the investment banking industry, wide experience in business valuation and specialises in Family owned and operated business matters.  He was expertly able to guide the Hagens through an extended negotiation process with Metcash and their advisers.

This result for the Company, The Hagens and the key executives is right from all angles. This  includes  Metcash’s commitment to the sector and maintenance and development of SSA’s core product. The  Hagens are also satisfied that their business and their key executives are well positioned to maintain their leadership into the future. The Hagens will now have the time to enjoy their long list of “things to do” after successful transition of the business over the remainder of the year

The transaction is subject to informal merger clearance by the ACCC.

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