Canterbury Partners delighted to have advised the shareholders of Business Automation Works (trading as ATOmate) on a process to bring on a private equity partner Five V Capital (Frontier strategy) in October 2025.
Founded in 2018, BAW is an Australian tax automation software provider serving Australian tax agents. Its flagship product, ATOmate, integrates with the ATO to streamline the processing, review, management, and distribution of ATO correspondence, materially reducing manual administrative effort for accounting practices. ATOmate supports 1,500+ accounting firms across Australia, ranging from large multinational networks to boutique practices.
With BAW’s impressive operating metrics and growth trajectory, the process was highly competitive attracting strong interest from a range of domestic and international private equity and strategic buyers. The process ultimately resulted in BAW partnering with Five V Capital, a leading Australian mid-market private equity investor, who acquired a majority stake and together with founders Stan Corner and Paul Salcombe will spearhead BAW’s next phase of growth.
