MEDIA RELEASE
efex, one of Australia’s leading providers of managed IT services, has secured its next phase of growth with Advent Partners. efex Founder Nick Sheehan will remain CEO under the new model, with Advent supporting the business to expand its regional footprint, develop new customer offerings in line with market demand, and continue efex’s growth through its strategic acquisition strategy.
Established in 2013, efex has expanded to become a national technology services specialist with more than 250 employees, a client book of 7,500 customers, and operations across 22 locations in Australia.
The outsourced ICT services market in Australia for small to medium businesses is estimated to be worth more than $3 billion, with managed IT services expected to grow at roughly eight per cent per annum, driven by cloud transition, increasing complexity of IT requirements and rising cybersecurity risk and compliance.
efex offers a full suite of IT services underpinned by an advanced professional services automation platform. Its services extend across, cloud, cyber, unified communications, modern workplace, business resilience, managed document solutions and hardware provisioning.
efex has championed a ‘buy and build’ strategy, acquiring 11 sophisticated, client-orientated, and innovative managed service providers. It most recently acquired Datcom, a cybersecurity services leader, and Medihost Solutions, an IT solutions provider for medical services and healthcare practitioners. efex has also built a leading position in regional Australia, providing equal access to both best-in-market technology solutions and employment opportunities beyond metropolitan areas. Its customer-base sits across professional services, education, healthcare, mining and local government.
Advent Partners’ championship of Nick Sheehan’s leadership will see the company continue to pursue its ‘buy and build’ approach. efex remains focused on identifying attractive regional and metro managed services providers across Australia and New Zealand that fit within its core focus, to accelerate its expansion of existing strengths in mid-market and enterprise.
A key attraction for Advent Partners was efex’s automation platform which enhances scalability, integration efficiency, and identification of additional customer requirements and tailoring of efex solutions.
Nick Sheehan, Founder and CEO at efex said: “I am pleased to announce this next step for efex, an exciting opportunity for the business and a signal of more good things to come for the thousands of customers we service across Australia. Our team has created industry-leading solutions for our clients and a great home for other businesses looking to consolidate as the next step in their future.”
“We were attracted by Advent’s collaborative approach to business, which will undoubtably drive productivity and deliver enhanced value for our customers and our people. We have significant ambitions, and by adding one of Australia’s most experienced investment managers to our corner, we are well-positioned to build on our success,” said Mr Sheehan.
Having operated for more than 40 years through eight funds, Advent Partners is one of Australia’s longest-standing investment managers. The business currently has more than A$1 billion in funds under management and a track record of investing in innovative, technology businesses and supporting Founder-led organisations including investments in Compass Education, Flintfox International, MedTech, RMS Cloud and Social Pinpoint.
Brad Lynch, Partner at Advent Partners said: “efex is a unique business, combining national scale with a genuine local connection. Its commitment to customer service and its culture as a great place to work position efex as an ideal partner to drive continued consolidation within the managed IT services sector”.
Mark Jago, Partner at Advent Partners added: “As efex continues to scale, we are excited to support Nick and the management team through our collaborative approach to help unlock new potential, and subsequently create more value for customers across the nation.”
If you have any questions in relation to this acquisition, please forward them to hello@efex.com.au.
