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ICG acquires SuperChoice
Street TalkHere's one we missed over theholidays.Potentia Capital succeededin finding a buyer for its super-annuation payments platform,SuperChoice, about 1 years afterit called in Macquarie Capital toseek buyers. IntermediateCapital Group (ICG) has boughtSuperChoice alongside a con-sortium that includes manage-ment and industry experts.ICG is joined by former LinkGroup chief financial officerJohn Hawkins and business pay-ments player Ezidebit foundersMick and Dan Dempsey.SuperChoice's sells a busi-ness-to-business fintech plat-form specialising in the super-annuation and payroll sectors.ICG is betting on long-termgrowth from building out andscaling its platform.ICG made the investmentfrom its $US1.1 billion ($1.76billion) Fund IV raised in 2022.The acquisition comes as ICGrevives sale plans for anotherinvestment, SCF Containers,which it has been trying to sellsince late 2019 via Jefferies andthen Rothschild. Sources saidICG's dealmakers were in ad-vanced talks with a suitor head-ing into Christmas and ex-pected to sign a $300 million-plus sale this year.ICG's Australian portfolio isteeming with healthcare busi-nesses including Cura DayHospitals, acquired for $500million-plus in late 2023 and adecade after the core-plus in-frastructure investor funded amanagement buyout off ArcherCapital. It also has a stake inday hospitals owner PresMedAustralia and Kiwi cancer careprovider Canopy Healthcare,and was a shareholder atEverlight Radiology.
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