Advent Partners backs efex’s regional expansion & growth plans

Advent Partners has acquired a majority stake in efex, a managed IT services provider, with founder Nick Sheehan continuing as Chief Executive Officer.

The acquisition forms part of efex's plan to broaden its reach across regional areas, further develop its customer offerings, and maintain growth through acquiring other businesses. Advent Partners, based in Australia, manages over AUD $1 billion and has a history of investing in technology-focused businesses, particularly those founded and led by entrepreneurs.

Growth strategy

efex was founded in 2013 and has grown to employ more than 250 people nationwide.

The company serves approximately 7,500 clients from 22 locations throughout Australia, delivering a full range of technology services including cloud, cybersecurity, unified communications, business resilience, and modern workplace solutions. These operations are supported by an advanced automation platform for professional services.

Over the past decade, efex has pursued a 'buy and build' strategy, acquiring 11 specialised managed service providers that focus on client needs.

Recent acquisitions by efex include Datcom and Medihost Solutions. Moving forward, efex intends to continue identifying potential acquisitions among both regional and metropolitan managed services providers in Australia and New Zealand, particularly those that enhance its mid-market and enterprise focus.

Leadership and direction

Nick Sheehan will remain as Chief Executive Officer under the new ownership model. The ongoing partnership with Advent Partners is expected to support expansion, offer new services aligned with shifts in market demand, and further strategic acquisition activity.

"We're pleased to welcome Advent Partners as majority investors in the business and look forward to working closely together in this next phase of efex's growth. This partnership means we can accelerate our expansion across Australia and New Zealand, keep building our service offering so it remains fit for purpose, and continue delivering value for our customers. The support and expertise Advent brings is a real enabler as we continue our focus on founder-led managed IT service providers to join the efex business."

The model is designed to prioritise growth in the core areas that have already helped establish efex's presence in the market.

By focusing growth both organically and through acquisition, efex aims to broaden its reach while strengthening its established strengths in serving medium-to-large organisations.

Investor perspective

Advent Partners highlighted its confidence in efex's management and operational strategy as key factors behind the investment decision. Advent's plans include supporting the business as it pursues further regional and product expansion alongside its acquisition strategy.

"efex is a robust technology services company with a disciplined approach to growth and a focus on client outcomes. We have strong conviction in the senior management team and the business strategy. This investment aligns with our track record of supporting founder-led businesses and our experience in the technology sector. We look forward to working closely with Nick and the broader efex team to drive the next stage of growth."

Advent Partners' investment reflects ongoing investor interest in Australian technology service businesses, particularly those employing a scalable approach targeting both metro and regional markets.

Market outlook

With more than 7,500 clients and a workforce of over 250 people, efex has built a diverse portfolio in Australia, offering services designed to address changing business technology requirements.

Its strategy of targeting acquisition opportunities among founder-led providers and growing its footprint into New Zealand is set to continue under Advent's majority ownership.

The support from Advent Partners is expected to provide efex with further capital and expertise as it aims to build long-term value for shareholders and customers while continuing to grow its service capabilities and geographical reach.