M&A deals in April in the B2B Services sectors in Australia

2. Australian accounting and advisory network Kelly+Partners has expanded into Europe though the addition of Kudos International member Asple & Co in the Irish county of Wexford

Established in 1973, Asple & Co has a headcount of around 20 professionals and revenues pushing toward $3.5 million. The deal sees the full-service accountancy rebrand to Kelly+Partners Wexford, with Denis and Stefan Asple and Sean Bates joining as partners. Situated about 100 kilometres from the capital in Ireland’s southeast, County Wexford has experienced significant economic and population growth in recent times due to the influx of commuting Dubliners priced out of the city’s housing market and retirees seeking better value for money, along with.investments made during the ‘Celtic Tiger’ boom years.  Asple & Co has been well placed to service both the local population and its newcomers, with a range of offerings in areas such as wealth management and succession planning, pension advisory, and support for business start-ups alongside its more traditional lines in taxation, accounting, payroll, audit, and banking and business advisory. As perhaps fitting its name, the move into Ireland marks the first step in Kelly+Partners’ European expansion after building up its presence in the US and Asia over the past two years, with the firm also having bought a majority stake in Kudos International in September.

3. Education group Scentia has purchased organisational coaching and development provider IECL

Purchased last year by private equity firm Next Capital, Scentia will now add the Institute of Executive Coaching and Leadership (IECL) to its portfolio which further includes The Australian Institute of Management and AIM Business School. The deal follows the appointment of McGrathNicol partners Katherine Sozou and Damien Pasfield at the end of last month to oversee the voluntary administration of GrowthOps, which was launched in 2017 as a creative, tech, and management consulting roll-up. Operating since 1999, IECL was one of the eight entities initially  brought together under the then Trimantium GrowthOps banner ahead of its $70 million IPO and ASX listing (before being scratched two and half years later as its share price plummeted from $1.20 down to 5 cents), but was the only subsidiary not subject to liquidation. Meanwhile, established in 1941, AIM provides business, leadership, and management short-courses and qualifications to upwards of 20,000 students per year geared towards the public and professional services sectors, with the AIM Business School offering flexible online MBAs and other postgraduate studies designed for working professionals.

4. The Missing Link Joins Infosys to Accelerate Digital Transformation at Scale

This acquisition enables Infosys to deepen its presence in Australia and scale The Missing Link’s technical expertise globally. The Missing Link announced it has signed a definitive agreement to become part of Infosys, a global leader in digital services and consulting. This milestone marks a new chapter in the company’s 27-year journey, integrating its award-winning cybersecurity, IT and AI-powered automation capabilities into a global ecosystem and unlocking exciting opportunities for clients, partners, and employees. This partnership significantly enhances The Missing Link’s ability to scale its core offerings: enabling businesses to remain secure, connected, and competitive in a rapidly evolving digital landscape. The company’s cybersecurity capabilities – including advanced Red and Blue Team operations, 24/7 threat detection, and leading-edge vulnerability research – will now be amplified by Infosys’ global scale and resources. Together, the combined strengths will deepen capabilities across infrastructure, cloud, and AI-powered automation, delivering smarter, more resilient outcomes for clients. The Missing Link will continue to deliver on its core promise: to consistently exceed expectations -through service excellence across all areas of expertise. Its comprehensive offerings span end-to-end cybersecurity services, including cyber risk assessments, managed detection and response, offensive testing, and compliance, alongside critical support for organisations in modernising infrastructure, optimising cloud environments, and unlocking efficiency through intelligent automation. All services are delivered by the same experienced team, with tailored guidance and a continued focus on service excellence.

5. Arcadea Group Announces Strategic Acquisition of Phoenix, by Agdata Holdings

Arcadea Group, a long-term investor in high-quality vertical software businesses, is pleased to announce its strategic acquisition of Agdata Holdings, including Phoenix, is flagship farm management software (“Agdata”). Phoenix is an integrated farm management software suite that covers the entire Australian cropping and livestock production system. This comprehensive approach allows producers to manage their operations efficiently, integrating data from production to farm financials —all in one system, something unmatched in the market. Phoenix is a leading farm management software solution tailored for the Australian agricultural industry, based in Toowoomba, Australia. The product is unrivalled in the sector with its ability to cover an entire rural production system, integrating data from production through to farm financials. Arcadea Group is a long-term investor in high-quality vertical software businesses. With a global mandate, Arcadea leverages its significant permanent capital base to focus exclusively on businesses with long-term potential that deliver mission-critical solutions.

6. Investment advisory firm Equity Story to buy Adelaide-based Baker Young for $4.2m

Investor media group Equity Story Group (ASX: EQS) is betting more than its own market capitalisation to acquire Adelaide-based financial advisory firm Baker Young for $4.2 million, less than two months after attracting strategic investment from Capital Haus whose founder Brendan Gow is now its executive chairman. The acquisition sum is just shy of the $4.5 million in annual revenue recorded in FY24 by Baker Young, which has approximately $700 million in funds under management (FUM) and more than 6,000 client accounts. The cash deal will be fully funded by debt as well as the issue of 10 million EQS options valued at 5 cents each, which is almost three times the value of EQS shares currently. Equity Story will pay $3 million upfront for the transaction – a level equivalent to its current market capitalisation – with the remaining $1.2 million subject to performance conditions 10 months after the deal is completed. The ASX-listed company says the transaction is expected to include a profit-share model for Baker Young advisers and staff, serving as a foundation to attract more advisors as the Equity Story Group expands. Equity Story CEO Shane White, who was promoted to the role in September, says executing a strategic acquisition like Baker Young “so early in his tenure as CEO” signals a new phase of growth, ambition and capability for the group.

7. Luxembourg’s IQ-EQ acquires AMAL Group to capitalise on growing Australian corporate trust market

Luxembourg-based investor services group IQ-EQ is expanding into Australia through the acquisition of AMAL Group, a Sydney-headquartered group that provides corporate trust, agency services and loan servicing solutions nationally. The private equity-backed IQ-EQ, which has operations in four continents with more than US$750 billion in assets under administration (AUM), says the acquisition supports its strategy of expanding its global corporate trust and loan servicing business into key new growth markets. IQ-EQ, which is owned by private equity group Astorg Partners, has signed an agreement to acquire the AMAL Group amid an acceleration of Australia’s corporate trust market. While the deal remains subject to Foreign Investment Review Board (FIRB) approval, once the acquisition is settled AMAL Group will be rebranded as IQ-EQ, boosting the European group’s existing footprint to 27 countries employing more than 6,000 people. AMAL Group, which was founded in 1994, is the region’s only integrated provider of loan servicing, corporate trust and agency services, with more than $37 billion of funds under administration and supervision in Australia and New Zealand. IQ-EQ notes that the corporate trust market in Australia has been expanding quickly with double-digit growth year-on-year in the securitisation market which has been driven by expansion of the non-bank lender market.

8. Banyan Software Acquires BuRPS, a Leading Workforce Management Solution for Independent Grocers and Retailers

Banyan Software, a global software company focused on acquiring, building, and growing enterprise software businesses, is pleased to announce the acquisition of BuRPS (Budgeting, Rostering, Payroll System), a Queensland-based provider of workforce management software for the retail and hospitality sectors. Founded in 2004 by Hilary Enloe and Ian Lythgoe, BuRPS has been a trusted partner to customers across Australia, helping businesses streamline operations, reduce labour costs, and ensure compliance with labour regulations. The software is widely used by independent grocery groups and single-store retailers. BuRPS (Budgeting, Rostering, Payroll System) is a workforce management software serving retail and hospitality businesses across Australia. Founded in 2004, BuRPS helps customers optimize staff scheduling, track attendance, comply with labour laws, and streamline payroll, with deep integrations into industry-specific point-of-sale systems. Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. Banyan’s mission is to acquire, build, and grow great software businesses all over the world with dominant positions in niche verticals. Founded in 2016, the company follows a buy-and-hold-for-life strategy, and is set up with a permanent capital base to preserve the legacy of founders. As a purpose-driven company, Banyan is committed to making an enduring, positive impact on the world.

9. Legrand acquires Computer Room Solutions for data centre boost

Legrand has acquired CRS, strengthening its Data Centre portfolio and supporting its ANZ growth strategy with its fourth acquisition in 18 months. With close to 20 years in operation, CRS is a premier player in the design, development and commissioning of data centre infrastructure. CRS reported sales close to AU$50 million in FY24, providing a range of solutions and services in the data centre white space including structural ceilings, hot & cold aisle containment, mech walls, security caging and server racks and cabinets. CRS solutions are complementary to Legrand’s existing data centre portfolio, while also introducing new innovative offerings to the Group’s product suite. Headquartered in Mascot, Sydney with manufacturing facilities located in Melbourne, CRS has a dedicated local manufacturing presence and a team of close to 80 people. CRS’ local design and manufacturing capabilities provide significant efficiencies for its customers in Australia and New Zealand, as well as in Southeast Asia and India. The CRS announcement demonstrates Legrand’s ambition in the data centre vertical, which now represents 20% of the Group’s proforma revenue. This is the 3rd acquisition in the ANZ data centre space, after Mechanical Support Systems (MSS) and VASS.

10. Fat Zebra Acquires SecurePay from Australia Post, its third acquisition in 14 months

Fat Zebra were pleased to announce a significant development in Fat Zebra’s growth strategy. Today, they have acquired SecurePay from Australia Post, marking their third acquisition in the past 14 months, and a key step in their mission to become the leading domestic provider of digital payment solutions across Australia. SecurePay is one of Australia’s original online payments providers, with a 20-year track record and more than 35,000 businesses using its services. Since becoming part of Australia Post in 2010, SecurePay has delivered reliable, secure, and integrated payment processing to businesses of all sizes. Its long-standing customer relationships make it a natural fit for Fat Zebra’s expanding capabilities. This acquisition further accelerates Fat Zebra’s ability to provide a comprehensive suite of payment solutions, spanning enterprise, platform, and SMB segments. It follows our acquisitions of Adatree, a leader in customer data portability, and Pin Payments, a trusted provider of embedded payments for small to medium-sized businesses and software platforms.

11. Growth Equity Firm PSG invests US $280 Million in Protecht

Protecht Group (“Protecht”), an Australian based leader in governance, risk, and compliance (GRC) solutions, today announces a US $280M investment from PSG Equity (“PSG”), a leading growth equity firm that specialises in partnering with software and technology-enabled services companies to capitalize on transformational growth. As regulatory scrutiny grows globally and operations become more complex, organisations are under greater pressure to adapt. This strategic investment will empower Protecht to help deliver AI-driven risk management solutions, positioning Australian tech companies to be among those at the forefront of addressing global enterprises’ needs. With offices in Sydney, Los Angeles, and London, Protecht Group provides innovative risk management solutions, including the Protecht ERM (enterprise risk management) platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems. PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris, and Tel-Aviv.

12. Pmy Group acquires Event 360 to boost live event capabilities

PMY Group (PMY), a global leader in technology solutions for sport and major events, has acquired UK-based EVENT360, a premier producer of match-day entertainment, immersive stadium ceremonies, and unforgettable live experiences. EVENT360 plays a key role in some of the most memorable moments in sport, with an impressive client roster including UEFA, NFL International, Six Nations, the Rugby Football Union, the Football Association, Arsenal Football Club, and SailGP. Under the acquisition, EVENT360 will be rebranded and integrated into KOJO, which is PMY’s global experience division, enhancing the company’s ability to deliver technology-driven fan engagement and world-class live event production. By combining EVENT360’s match-day expertise with KOJO’s award-winning creative, production, and technology services, PMY is poised to elevate fan experiences at major events, tournaments, and stadiums around the world. PMY Group chief executive officer Paul Yeomans said the acquisition aligns with the company’s vision to power the live environment through technology, intelligence and experience.