Aug-26 M&A: BtoB Services

2. Bendelta adds US-based leadership development platform Kahilla

Australian management consultancy Bendelta has added US-based leadership development platform Kahilla to its mix, along with Catherine Kwan and co-founder Noa Ries. Ries established Kahilla in Idaho in 2018 after successfully launching and selling a fitness apparel brand in Sydney, with the platform having since been used by Fortune 500 companies and other large organisations to help develop high-potential leaders. For Bendelta, which was co-founded by Natalie Micarone and Anthony Mitchell in 2003, the addition of Kahilla continues a notable recent acceleration in the business following the acquisitions of Workplace Research and Boldly over the past twelve months. Mitchell also remarked on a busy past year for the firm. Along with welcoming organisational design consultancy Workplace Research and its team in Canberra, and the global executive coaching network Boldly, Bendelta also last year launched the AI decision-support app momentLeader – all while taking over the ‘AFR Boss Best Paces to Work’ evaluation duties. The firm described the trio of bolt-ons as highly complementary and part of its strategy to build one of the world’s most complete leadership ecosystems as a one-stop shop for transformation across the human capital progression life-cycle, with Kahilla providing a critical piece of that vision in delivering “a digitally-enabled, community-powered leadership development platform at scale.”

3. Nexifi merges with customer experience specialist Idea Science

Australian technology consultancy Nexifi, which was founded in Melbourne last year, has merged with Sydney-based customer experience (CX) specialist Idea Science to form the Nexifi Group. Established by former Versent executives Rob Frendo and Carl Rigoni, Nexifi kicked off operations last year with a team of more than 30 already in place and a focus on data & AI, cloud & DevOps, customer relationship management (CRM), and digital & CX. That latter line has now been given a significant boost through the addition of Idea Science, which, founded by chairman Peter Drum, has been operating out of Sydney since 2008 with its own team of 30-plus professionals and further outlets in Melbourne and Manila. Factoring in Nexifi’s growth since setting up shop last year, the combined entities now boast of a headcount of more than 100 advisors and technicians, with a further office launch in Adelaide on the horizon. The merger partners said that their official coming together follows a successful period of collaboration across their shared customer base over the course of this year and last.

4. Banyan Software Welcomes CRMA

Banyan Software, a long-term acquirer and operator of vertical market software businesses, is pleased to announce the acquisition of CRMA, a specialist outsourced customer retention provider for franchised automotive dealerships. The acquisition brings CRMA into closer strategic alignment with Harrier National, a Banyan Software company and a leading dealer retention management platform in Australia, strengthening the services available to dealerships across the region. Jason Fisher founded CRMA in 2008 after recognizing that dealerships were losing valuable service customers, undermined by disconnected data and ineffective retention processes. Over 18 years, he built CRMA into a trusted outsourced extension of the dealership service departments: ingesting raw dealer management system (DMS) data, cleansing it, and delivering structured retention programs, including service reminders, lost customer reactivation, warranty contact, and customer satisfaction outreach, on the dealer’s behalf.

CRMA (Customer Retention Marketing Australia) is a specialist customer retention and marketing services business founded in 2008 by Jason Fisher. CRMA helps dealerships and related businesses across Australia manage professional, consistent customer contact that drives loyalty, repeat visits and long-term profitability. The company is recognized for its deep industry experience, strong data and process capabilities, and a highly personalized service model.

5. Firmus to acquire Benmax’s fabrication, design and projects businesses

AI infrastructure company Firmus Technologies has entered into a binding agreement to acquire Benmax’s Fabrication, Design and Projects businesses for A$300 million. The acquisition strengthens Firmus’ vertically integrated AI Factory Platform, bringing design, fabrication, construction, and operations together within a single operating model. Bringing more of the AI Factory value chain together is expected to improve deployment speed, capital efficiency and operating performance, supporting a lower cost of token production and reducing complexity, Firmus said. Firmus’ HyperCube is the company’s modular AI Factory system, designed and manufactured in regional NSW by Benmax. It enables Firmus AI Factories to be built rapidly, while reducing energy and water consumption through advanced liquid cooling, mechanical integration and electrification. Since the inception of the HyperCube in 2020, Benmax has worked alongside Firmus to co-design and manufacture successive generations of the modular platform. Over the past 12 months, the HyperCube platform has been adapted for the existing CDC facility in Melbourne. It is currently being deployed into Firmus’ AI Factory development in Tasmania, while manufacturing activity will also support Firmus’ recent expansion into Southeast Asia. In Australia, Firmus delivers end-to-end AI Factory developments, while in Southeast Asia HyperCube will be integrated into projects delivered with regional build partner DayOne. On completion, the acquisition will more than double Firmus’ global workforce to 340, significantly expanding its in-house engineering, manufacturing, project delivery and supply chain capabilities. Firmus

6. Arrow Global Insurance strengthens specialty insurance platform through acquisition of Fusion Specialty Group

The acquisition marks another significant milestone for Arrow Global Insurance, reinforcing its leadership in specialty insurance markets where disciplined underwriting is critical. Arrow Global Group (“Arrow”), a leading pan-European alternative investment manager, today announces a significant milestone for Arrow Global Insurance (“AGI”) through the acquisition1 of Fusion Specialty Group (“Fusion”), a specialist managing general agent (“MGA”). AGI is an established specialty insurance platform providing institutional investors with access to specialty, non-catastrophe insurance markets by combining Arrow-backed MGAs, rated risk-bearing capacity and Arrow’s investment capabilities. Supported by long-term institutional capital, AGI targets attractive underwriting performance in markets characterised by high barriers to entry, fragmented competition and technical complexity. The acquisition further enhances AGI’s platform by adding another high-quality specialist MGA with a well-established underwriting track record. Through Halldora Re Ltd² (“Halldora Re”), AGI’s A- (Excellent) AM Best-rated reinsurer, and the broader Arrow platform, Arrow’s MGAs benefit from access to long-term underwriting capacity, institutional capital and scalable operating infrastructure, enabling them to grow responsibly while maintaining underwriting discipline.

7. Stantec acquires Niche, expanding environmental leadership across Australia

Stantec, a global leader in sustainable design and engineering, has acquired Niche, a 200-person environmental consultancy headquartered in Sydney, Australia, along with its wholly owned subsidiary, Ausecology. The addition strengthens Stantec’s ability to help clients advance critical infrastructure and development projects while protecting and restoring the natural environments communities depend on. Recognised nationally for its leadership in ecology, heritage, natural capital, and land restoration, Niche brings a strong east coast presence and a team of highly respected specialists whose work has helped balance growth, conservation, and cultural stewardship across Australia. Together, Stantec and Niche are creating one of the country’s leading environmental services practices with operations on both coasts, positioned to support clients at every stage of the project lifecycle. The acquisition grows Stantec’s environmental services team in Australia to nearly 450 professionals, with a presence in every mainland state. As Australia invests in energy transition, transportation, housing, and resource development, environmental considerations are becoming increasingly central to project success. The addition of Niche expands Stantec’s ability to guide clients through permitting, biodiversity, and environmental planning challenges while accelerating the delivery of infrastructure and development that benefits communities for generations to come. Niche’s diverse portfolio has helped to shape stronger communities and healthier ecosystems, spanning several key areas including energy, land development and management, resources, and transport infrastructure.

8. Sia significantly expands Australian footprint with Seven Consulting deal

Global management consultancy Sia has significantly expanded its footprint in Australia with the acquisition of Seven Consulting, a 100-person firm with offices in Sydney, Melbourne and Manila. The deal, Sia’s second acquisition this year following the purchase of US-based strategy consultancy Kaiser Associates, brings one of Australia’s leading business transformation and project management specialists into its ranks. Founded in 2002, Seven Consulting supports clients in delivering complex, business-critical transformation programmes. Its client base includes some of Australia’s largest financial services organisations, including NAB, Macquarie, ASX, Cuscal, Future Fund and Pepper Money, as well as the Australian Government and the governments of New South Wales and Victoria. Other clients include Australia Post, Woolworths, Coles, Coca-Cola, Optus, Adairs and several energy companies. The acquisition more than quadruples Sia’s headcount in Australia to over 130 consultants. The firm entered the Australian market in 2022 through the acquisition of Perth-based Churchill and has since then expanded its local operations. “The deal also diversifies Sia’s portfolio, expanding its focus beyond mining and energy to include blue-chip clients across banking, government, transport and retail. Founded in 1999 in France, Sia (formerly known as Sia Partners) now has more than 3,000 consultants across 19 countries. The consulting firm is backed by investment firm Blackstone.

9. Banksia merges with SAS Group

Banksia Strategic Partners Joins SAS Group in Major Expansion of National Advisory Business. The merger marks a new chapter for the consultancy, with Banksia to retain its brand, leadership and team while gaining expanded national capabilities and reach. Banksia Strategic Partners is entering a new phase of growth following its merger with nationally recognised strategic communications and public affairs firm SAS Group. The merger brings together two established advisory businesses with experience spanning the corporate, government and community sectors, creating expanded capabilities and a broader national footprint. Banksia Strategic Partners was founded as a small venture operating from a laptop and has since grown into a national advisory consultancy working with organisations across business, government, unions and community organisations. SAS Group brings extensive experience in strategic communications and public affairs, with a reputation for providing practical, outcomes-focused advice to clients across business, government and the community sector. Since its establishment, Banksia has positioned strategic advice as more than simply a means of resolving immediate problems. The merger represents a significant milestone for Banksia Strategic Partners as it looks to build on its achievements while maintaining the values that have underpinned the business since its inception.

10. M&A Affinity MSP acquires VIC-based MSSP Evolve Cyber

Affinity MSP has acquired EvolveCyber, an Australian-based managed cybersecurity services provider. The acquisition advances Affinity MSP’s strategy to build a dedicated, in-house cybersecurity capability for its clients, giving them direct access to a specialist team focused exclusively on managing and reducing cyber risk. Evolve Cyber specialises in penetration testing, risk assessments, and compliance support, including ISO 27001 readiness.  As part of the acquisition, EvolveCyber founder Liam Benson will step into the role of head of cyber security for Affinity MSP, leading the combined organisation’s cybersecurity practice.  Following the acquisition, EvolveCyber’s cybersecurity capabilities and team will become part of Affinity MSP, which placed at number 30 in the techpartner.newsFast 50 rankings. Services will be delivered under the Affinity MSP brand. EvolveCyber clients can expect continuity of service, now backed by Affinity MSP’s broader scale, resources, and 24/7 support infrastructure, operating as EvolveCyber, an Affinity MSP company.

11. Comms Group to sell onPlatinum to efex for $30m

Comms Group has entered into a binding share sale agreement to divest its IT managed services division, onPlatinum, to Thinkex Holdings Pty Ltd trading as efex for a total consideration of A$30 million, subject to customary completion adjustments. Consideration includes an upfront cash payment of A$28.5 million and A$1.5 million held in escrow for twelve months, payable subject to completion of agreed conditions that are expected to be met. Upon completion of the transaction, Comms Group and efex will have entered into a transition services arrangement whereby Comms Group will continue to provide telco related services to onPlatinum and efex and similarly, onPlatinum will continue to provide a range of services to Comms Group related businesses. onPlatinum, acquired by Comms Group in 2022 for $12 million and ranked number nine in the 2016 Fast50, expanded the company’s managed IT services, cloud and mid-market customer capabilities and expanded the Group’s presence in Queensland, New South Wales and Victoria. The divestment is consistent with Comms Group’s renewed strategic focus on its core cloud communications, unified communications, domestic telecoms and global services businesses The transaction is expected to strengthen the company’s balance sheet and provide additional flexibility to invest in organic growth and product development, but the divestment of onPlatinum will reduce Group revenue and earnings.

12. Fuse Technology acquires WA-based MSP Infinitum Technologies

Fuse Technology has acquired Infinitum Technologies, a managed IT provider based in Geraldton, Western Australia and operating across the state. Infinitum, founded in 2016, provides a range of solutions, including consulting, integration, security, managed services, cloud, unified communications, print, connectivity, hardware and licensing. The acquisition strengthens Fuse Technology’s existing presence in Perth and extends its local footprint into the Mid West region. The transition will be managed in phases over the coming months, with a focus on protecting existing customer relationships, integrating teams, and progressively aligning Infinitum’s brand and systems with Fuse Technology. For Infinitum, existing customers will continue to be supported by their existing local contacts, with no immediate changes to service delivery. Over time, Infinitum customers will gain access to Fuse Technology’s broader technical expertise, additional resources and expanded service capability. Fuse Technology operates internationally, with teams across Australia, the United Kingdom, Vietnam and Canada, providing managed IT, cybersecurity, cloud and technology consulting services. The company is ISO 27001:2022 certified and aligns its security practices to the Australian Government’s Essential Eight framework.