SCD Advisory acted as sell-side adviser to Insync Technology on their sale to Rapid Circle

Combining Insync’s in-depth expertise on teamwork, security, calling and meeting room solutions with Rapid Circle’s expertise in business applications and cloud services, will strengthen Rapid Circle’s capability offerings for its growing midmarket and enterprise customer base in Australia.

The acquisition of Insync Technology, a company that grew to over $12 million in revenue since its inception in 2013, represents the first step in Rapid Circle’s ambitious, acquisition-led growth strategy in the Australian market. The company plans to acquire further cloud specialist companies within the Microsoft ecosystem, as it sets out to achieve its goal of becoming Microsoft’s preeminent, full-service workplace capabilities partner.

Rapid Circle will add 45 staff to its local headcount through the acquisition of Insync Technology, including the company’s three founders who will play an active role in Rapid Circle’s day-to-day operations moving forward. As the global Microsoft Teamwork Partner of the Year 2020, Rapid Circle counts household names such as Shell, Victorian Dept. of Premier and Cabinet, 1st Energy and RMIT as customers, and will look to continue its expansion into government, education, financial services and healthcare sectors across the country. According to Gartner, Inc., enterprise IT spending across all industry sectors in Australia will grow 3.6 per cent to reach more than A$95.8 billion this year, with the local government, education and healthcare sectors proving most resilient in technology spending in 2020.

Stewart Bairstow, Australian CEO of Rapid Circle, said: “Insync Technology brings a proven set of new expertise and will broaden our service portfolio to offer customers the best advice and solutions across the full range of Microsoft modern workplace technology. The acquisition of this key Microsoft partner signals the first step in Rapid Circle’s local growth plans and enhances our capability to help Australian organisations work digitally smarter and more efficiently.”

Mr Bairstow added: “With the significant impact of COVID-19 and the increasing desire for workplace flexibility, it’s never been more important for Australian organisations to be digitally dexterous and capable. We are looking forward to bringing the capabilities of the Insync team to a wider market across Australia as well as internationally. Being part of a leading worldwide Microsoft Partner enables us to drive significant benefits for our staff and customers, as we help Microsoft drive adoption of cloud technology.”

Nathan Belling, General Manager of Insync Technology, said: “Becoming a part of Rapid Circle opens up incredible opportunities for myself, our staff and our customers by adding capability and capacity in areas that are in high demand. By joining a company that has the same culture and similar Core Values is like a dream come true.”

Pierre Briand, the Managing Partner of SCD Advisory:

Nathan and the team were excellent to work with throughout the preparation and transaction. The deal with Rapid Circle, backed by Mentha Capital, was very efficient, due to Insync’s solid performance and the shareholder’s alignment and focus. This deal is a good example of how being well-organised can de-stress the transaction process, even a cross-border one such as this. Congratulations and good luck to the Mentha, Rapid Circle and Insync teams!

Nathan Belling, General Manager of Insync Technology added on SCD Advisory’s role:

SCD Advisory were great to have on our side throughout the transaction process. There is a considerable amount of work required in a transaction process and having their guidance and preparation beforehand ensured it all ran smoothly. Pierre was able to coach us through the many decisions that needed to be made and ensure a successful outcome was achieved.

At SCD Advisory, we offer a range of services from deal preparation to transaction execution. Contact us at info@scdadvisory.com to find out more.