Forum Topics Swoop Holdings (SWP) - new listing - formerly Stemify Ltd (SF1)
Bear77
3 years ago

27-May-2021:  Swoop (ASX: SWP) was trading today - and closed at $1.25/share.  This is James Spenceley's new company (he is their founder and Chairman).  If that name sounds familiar, that would be because James Spenceley was previously the founder & CEO of Vocus Communications (ASX:VOC), one of Australia’s largest telcos, and he grew VOC from a start-up to become an ASX 100 Company.  James has raised more than $750m in equity across multiple businesses and participated in 15 acquisitions worth a total of $2.3B. He is also Chairman of Airtasker (ASX:ART), and a Non-Executive Director of Kogan (ASX:KGN) and Think Childcare (ASX:TNK). 

Here he is talking about Swoop today on Ausbiz:  https://www.ausbiz.com.au/media/spencely-swoops-on-the-telco-market-?videoId=10614

I'm a shareholder in UWL (Uniti Group Ltd, formerly Uniti Wireless Ltd), which is being run by Vaughan Bowen and Michael Simmons, also both ex-Vocus, and before that ex-M2 Telecommunications (MTU, or M2 Group, which was taken over by Vocus/VOC), and UWL are flying at the moment.  I wonder if UWL and SWP might merge at some point.

Have a look at who James has onboard already (on the board, and his management team) at Swoop (SWP):  https://swoop.com.au/board-and-management/

  1. Tony Grist (Non-Executive Deputy Chairman) was the co-founder and Chairman of Amcom Telecommunications Ltd (AMM) leading its merger with Vocus (VOC).  Tony grew Amcom to be the largest shareholder of iiNet, Australia’s 2nd largest DSL internet service provider.  iiNet was aquired by TPG Telecom (TPG now, TPM then).  
  2. Matthew Hollis (Executive Director and Head of Sales & Marketing) was Executive Director and Head of Sales and Marketing at Superloop (SLC) where he gained an in-depth insight into the telco landscape in Singapore and Hong Kong.  Matthew was also previously at PIPE Networks prior to its acquisition by TPG, and at Vocus (VOC) where he helped grow the sales team from 3 to 110 salespeople driving sales to support its $5B market cap.
  3. Alex West (Group Chief Executive Officer/CEO) was recently Head of Integration then Group COO (Chief Operating Officer) at Superloop (SLC) delivering key infrastructure networks in Australia and internationally.  Alex was also previously at Vocus (VOC) leading and building their Infrastructure team organically and through acquisition, into one of the largest fibre infrastructure teams in Australia.  Alex also held the positions of Operations Manager and Major Projects Director at PIPE Networks before the acquisition by TPG. Alex has 20 years industry experience leading and integrating highly efficient teams.
  4. John Phillips (Chief Financial Officer/CFO) was recently CFO and Company Secretary at OptiComm (OPC), a telecommunications fibre infrastructure provider, where he played a pivotal role in taking the company through an IPO and on to the ASX.  OPC was recently acquired by Uniti Group (UWL).  John has over 30 years experience in IT, services and telecommunications.
  5. Richard Whiting (Chief Executive – NodeOne) has extensive experience in the Telecommunications industry in Australia, having been involved in the executive management of a number of publicly listed ASX companies.  He is currently Chief Executive Officer at NodeOne Internet, a West Australian operated internet service provider. Prior to NodeOne Richard held executive positions at Vocus Communications, Amcom Telecommunications, Amnet Limited and DXN Limited.
  6. Tom Berryman (Chief Technology Officer/CTO) was the Founder and Chairman of Anycast Networks which was acquired by Swoop in 2020. Divisions of Anycast have integrated to become Swoop Wholesale and Swoop Business as key drivers of new business growth.  Tom has 15 years’ experience in IT&T building networks and operations in Australia and overseas and he currently sits on the Executive Council of Victorian Chamber of Commerce and Industry, and previously a Chairman and Non-Executive Board Member of the Internet Association of Australia.
  7. Julian Breen (Chief Operating Officer/COO) has 20 years in the telecommunications industry that has gained him experience in Engineering, Service Delivery, Customer Support, Field Operations and Customer Experience roles, having held senior roles at organisations including Superloop, Vocus and COMindico/TPG. Julian oversees the national operations teams that build and support Swoop's expanding network footprint.

That's just a few names that I cherrypicked from their website.  You'll see there's quite a pattern there with:

  • Five of them that are ex-Vocus;
  • Three that are ex-Superloop;
  • Three (or 4) that were ex-PIPE Networks/TPG;
  • Two that are ex-Amcom; and
  • One that is ex-OptiComm

With some cross-over.  And plenty of IT&T (Information Technology and Telecommunications) experience amongst them all.  

Swoop only just started trading today on the ASX - as Swoop Holdings - with the SWP ticker code - and not yet added to the Strawman.com company database as I type this.  One to watch I reckon!

13

Bear77
3 years ago

Not yet @Gecko235.  I had not heard about Swoop until around 9pm last night.  I have no idea yet whether they are cheap, expensive or reasonably priced.  More work to do before I decide to buy any, IF I decide to buy any.  However, based on my experience with M2, Amcom, iiNet, BigAir, Vocus (early on), Superloop (early on, when they were heading north, before those guys all left and went to Swoop) and Uniti, I think there is certainly potential there.

6

Bear77
3 years ago

Further Reading on Swoop (SWP):

https://stockhead.com.au/tech/swoop-chairman-james-spenceley-on-todays-ipo-airtaskers-zaarly-play-and-his-life-as-an-asx-telco-director/

https://www.fool.com.au/2021/05/27/swoop-asxswp-share-price-rockets-130-after-ipo/

https://www.afr.com/companies/telecommunications/forrest-wins-big-as-telco-swoop-soars-on-asx-debut-20210527-p57vq9

Swoop – Business internet that is fast and reliable

https://www.crn.com.au/news/swoop-telecommunications-to-relist-on-asx-through-reverse-takeover-561192

 

Substantial Shareholders:

  1. William Paul Reid, 13.37%
  2. Oaktone Nominees Pty Ltd, 6.23%
  3. N and J Enterprises (WA) Pty Ltd, 7.71%
  4. Spenceley Management Pty Ltd, 5.65%
  5. Tattarang Ventures Pty Ltd, 19.70%

Notes:

  • William Paul Reid (with 13.37%) is Paul Reid, who is a non-executive director of Swoop (SWP) and was Swoop's Chief Operating Officer (COO) & Executive Director from April 2020 to February 2021.
  • Oaktone (with 6.23%) is one of Tony Grist's investment vehicles (Swoop Deputy Chairman, ex-Amcom, Tony co-founded Amcom and ran the company through until it was taken over by Vocus.  Tony was also involved with NodeOne, now part of Swoop).
  • N and J Enterprises (WA) (with 7.71%) is the investment vehicle of Nick van Namen, the founder of WA's NodeOne, which is also now part of Swoop (SWP).
  • Spenceley Management (with 5.65%) is obviously James Spenceley's company.
  • Tattarang (with 19.7%) is one of Australia's largest private investment groups and is owned by the Forrest family. (i.e. Andrew "Twiggy" Forrest, founder of FMG).

10

Who picked the colour scheme of their website >_<. I love green and purple and that hurts my eyes. 

Is the thought here just that it's worth watching on the strength of the management Bear? 

3

Bear77
3 years ago

Stuey, my thinking on Swoop is that - yes, they are certainly worth watching based on what their management has achieved previously, and the value they have created for their shareholders in the companies they have founded and run previously (Vocus, Amcom, Anycast, NodeOne) plus the experience they have gained working for other Telcos (Superloop, OptiComm, PIPE Networks, TPG, iiNet) plus the substantial shareholders (Twiggy Forrest with almost 20%, plus Tony Grist, James Spenceley, and Nick van Namen in particular).  Also, their MO is growth via acquisition in addition to organic growth, so they tend to grow these telcos reasonably fast, and these roll-ups, or growth via acquisition stories can often be very profitable to be involved with in their early years, and you don't get much earlier than this.  I tend to jump off these companies when they hit some turbulence a few years down the track - think Vocus, G8 Education, RFG, etc.  However, in the early years they tend to do very well.

6