Advent Partners secures majority stake in Efex to continue its growth strategy

This financial investment will help Efex pursue its ‘buy and build’ approach.

Advent Partners has made a majority stake in managed IT services brand Efex to help it continue on its build and buy approach.

Nick Sheehan, founder and CEO at Efex will continue to lead the business 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.

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.

Efex said it 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.

Sheehan told CRN Australia, “Over the next year, we will continue to build on our regional expansion and ‘buy and build’ program, targeting quality managed service providers in both metro and regional markets which are in line with our vision across Australia and New Zealand.”

Brad Lynch, partner at Advent Partners said Efex is a “unique business”.

“Combining true national scale, with local presence and relationships. We believe Efex is well positioned to continue to support consolidation in the managed IT services sector and are excited to be backing Nick and this team,” he said.

Lynch said their goal with Efex is “continued investment”.

“Efex can continue to provide exceptional customer service, service innovation, and rich and rewarding career opportunities for its people. We will continue to invest in regional markets where efex has demonstrated strong leadership,” he said.

Sheehan added, “With Advent Partners in our corner, we can fast-track our buy and build program, allowing us to integrate acquisitions more efficiently and bolster our offering to metro and regional customers across geographies.”

Advent Partners currently has more than $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.

In May this year, Efex acquired cybersecurity solutions provider Datcom.