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

2. Five V Capital excited to announce their investment in CriticalArc

CriticalArc is a fast-growing global Emergency Management Software (EMS) provider. This represents the second investment in their Frontier strategy, which focuses on partnering with ANZ’s best emerging growth companies. Founded in Sydney in 2011, CriticalArc’s flagship platform, SafeZone, enables security teams to effectively manage daily workflows and respond rapidly to critical situations when they arise. CriticalArc serves enterprise clients with complex physical environments across end markets including Higher Education, Healthcare, Infrastructure and Government. As a global SaaS business, CriticalArc has established an impressive client list across Australia, the UK and the US, including Stanford University, the University of Oxford, BHP, the Australian Bureau of Statistics and the NHS. We look forward to partnering with founders Glenn Farrant and Jahmai Lay, alongside the management team. Our investment will support CriticalArc’s next stage of growth, bringing SafeZone’s world-class capabilities to even more organisations globally.

3. Australian consultancy Proximity joins global player Systems Planning & Analysis

Australian consulting firm Proximity has become part of Systems Planning & Analysis (SPA), a global advisory and technical services firm focused on the national security and defence sectors. Since its founding in 2011, Proximity has grown into one of the nation’s leading government-focused consulting firms, providing management advisory, legal and commercial services to federal departments, Commonwealth agencies, and other governments institutions. Across its three practice areas, the consultancy offers change management, procurement and contract management, program and project management, commercial law, public law and legal support services, with its team now 115-strong across offices in Canberra, Melbourne, Sydney and Adelaide. Through the joining of forces with Systems Planning & Analysis, Proximity now becomes part of a global group – the US-headquartered company employs more than 2,200 people worldwide with 15 office locations across the US, UK and Australia. The deal will see Proximity team up with SPA’s existing team in Australia, which comprises around 15 staff in Canberra. SPA works mainly for the Department of Defence, providing military operational and analytic experience, access to advanced modelling and analysis tools, and security expertise.

4. Oceanic Consulting Group expands into UK with addition of LEAD Consulting

Australian management consultancy firm Oceanic Consulting Group (OCG) has furthered its international reach through the acquisition of UK-based LEAD Consulting. The deal will not only see OCG further grow its headcount – which has doubled over the past twelve months – and geographic footprint, but also diversify the consultancy’s portfolio of services, with LEAD Consulting’s expertise spanning marketing operations, customer data strategy and organisational design for clients in both the financial services and consumer segments. Since its founding, OCG has supported many of Australia’s leading financial institutions on business strategy, operational and risk management, technology transformation, talent resourcing, and specialised file review services. Now the firm adds another string to its bow, in the form of marketing automation, CRM integration, and AI-powered personalisation. OCG said the additional support in marketing as a key strategic channel would empower its clients to enhance their brand positioning, optimise lead management, and create targeted, high-impact campaigns with measurable results, while its cross-jurisdictional status will ensure they receive regionally-informed guidance tailored to local regulatory and operational requirements.

5. SightLine Applications in strategic US defence play by acquiring Brisbane’s Athena AI

US-based advanced video technology group SightLine Applications has acquired Brisbane’s Athena AI, a specialist in AI-enabled computer vision and decision support for the military, in a major step forward for the business founded by young entrepreneur Stephen Bornstein. Athena AI is part of Bornstein’s Cyborg Dynamics Engineering group which was founded in 2017 to deliver high tech engineering projects focused on robotics and autonomy. SightLine Applications, which is headquartered in Oregon and is backed by Artemis Capital Partners, plans to integrate Athena AI’s advanced capabilities into its core image processing platform with the acquisition representing an expansion of the group into Australia. SightLine says the push into Australia mirrors the strategic defence focus by the US on its Indo-Pacific Command capabilities and positions the company to support the “shared AI technology goals of longstanding allied nations – United States and Australia – as set forth in AUKUS Pillar 2”. Financial details of the acquisition have not been disclosed, but Bornstein who is the company’s managing director and is a former Brisbane Young Entrepreneur Award finalist, has been appointed chief product officer at SightLine Applications. Athena AI develops vision-based AI systems and trained models to enhance real-time situational awareness that enables quicker and more effective decision-making in mission critical defence applications. These include the fields of intelligence, surveillance and reconnaissance; counter-uncrewed aerial systems; fire control; mission planning and battlefield management. The company has worked with the likes of Airbus Helicopters and ASX-listed Xtek (ASX: XTE) with its vision-based AI systems for warfare environments and first responders.

6. BlueRock acquires specialist music & entertainment advisory White Sky

Professional services firm BlueRock has acquired fellow Melbourne-based outfit White Sky, an accounting and business management specialist for Australia’s music and entertainment industry.White Sky was founded more than two decades ago by Tom Harris, and today serves a long list of prominent Australian performers including the likes of Tame Impala and Vance Joy with specialised services in music royalties and tour accounting, business management, and bookkeeping. BlueRock said the acquisition aligned with its one-stop-shop model for small-to-medium enterprises and focus on key industry verticals, and would now expand the range of services available to White Sky’s clients in areas such as tax, insurance, legal and private wealth advisory along with digital brand and marketing support. The acquisition also adds some additional street cred to BlueRock’s image as an edgier alternative to the country’s more traditional accounting and advisory firms, with White Sky’s client-base further consisting of comedians, music festivals, managers and record labels alongside its roster of bands and solo artists. BlueRock noted that the addition of the White Sky team of around two dozen to its Collins St headquarters, including its five further partners, takes the firm’s local headcount to almost 400, while White Sky’s small handful of staff in Sydney will continue on as per usual.

7. Enspira Financial joins new global network established by BPM

US-based accounting and consulting firm BPM has launched a new international network of member firms – BPM Global – with Australia’s Enspira Financial the first to come on board. Based out of Sydney with further outlets in Melbourne and the Philippines, Enspira Financial was established in its current guise in 2016 and has a team of around 40 practitioners providing a range of accounting and other financial services. BPM, meanwhile, is headquartered in San Francisco with 14 offices spread across the western US states and a headcount upwards of 1,500, its revenues of around $250 million making it one of the country’s top 35 largest advisories of its kind. Headed by CEO Sook Smith, Enspira Financial traces its heritage back more than 30 years under its previous Jaques Stanmore Financial Group brand, and, with a particular focus on foreign entries, serves clients across an array of industries including those in the construction, professional, and financial services sectors with a full suite of offerings covering accounting, audit, tax and consulting,

8. LegalVision announces strategic partnership with Quadrant Private Equity

Legal services disruptor LegalVision is pleased to announce a strategic partnership with Quadrant Private Equity, one of Australia’s leading private equity firms. Founded in 2012, LegalVision has built its success on a subscription-based legal services model catering to startups, SMEs and larger enterprises. Quadrant’s investment and partnership will position the law firm for further expansion in Australia, the United Kingdom, and New Zealand. Through this partnership, LegalVision will increase investment in its team, technology and product, further enhancing its all-inclusive legal services subscription which has set the firm apart in the large and fragmented legal services market.

9. Egis’ strategic acquisition of Engeny boosts water, engineering and environmental services in ANZ

Egis, an international player active in architecture, consulting, engineering and mobility services, has announced the acquisition of Engeny, a renowned Australian water management, engineering and environmental consultancy. This strategic acquisition marks a significant milestone for both companies, enhancing their combined capabilities and expanding their service offerings across Australia and New Zealand. This is the group’s second acquisition in the region this year, continuing its strong growth strategy in response to the increased demand for water security, sustainable water management, and infrastructure and climate resilience. With more than 250 employees, across seven Australian offices, Engeny is well positioned in water management, engineering and environment planning, enabling Egis to strengthen and expand its footprint in this evolving sector. Engeny’s diverse portfolio complements Egis’s extensive range of services. This acquisition will enable Egis to offer a more comprehensive suite of solutions, including Water Management, Environmental Consultancy and Engineering. The integration of Engeny’s local specialised services with Egis’s global expertise, will provide new and existing clients with enhanced, multidisciplinary solutions, driving greater value and success in their projects.

10. Brennan to acquire Canberra-based cybersecurity specialist CBR Cyber

Brennan has entered into a formal agreement to acquire Canberra-based cybersecurity, connectivity and cloud specialist CBR Cyber. In addition to strengthening Brennan’s cyber security capabilities, the acquisition will expand its national footprint and bolster its credentials across all levels of government. Brennan intends to fully integrate the CBR Cyber management and team into its business on completion of the deal, which is expected in approximately four weeks. Brennan’s founder and managing director Dave Stevens stated that CBR Cyber had earned a “formidable reputation as a proven, dependable, and trusted consulting, engineering, and cybersecurity partner to public sector agencies at all levels.” The business intends to fully integrate the CBR Cyber management and 40-strong team into the existing Brennan business on completion of the deal, which is expected in approximately four weeks. CBR Cyber will then be absorbed into the Brennan brand. CBR Cyber managing director Andrew Weir said the acquisition will realise more growth opportunities and enhance customer outcomes.

11. Artelia strengthens its presence in Asia Pacific with the acquisition of LCI, a leading player in engineering in Australia

Artelia announces the acquisition of 100% of the shares of LCI, a leading Australian building engineering company, wholly owned by its employees. With a strong foothold in Europe and a solid presence in North America, the independent engineering group Artelia is continuing its dynamic growth in the Asia-Pacific region, where it has historically been present in around ten countries with over 1,200 employees. Established in Australia since 2020, the Group is taking a new step forward and reinforcing, through this operation, its development ambitions on this market. For LCI, joining Artelia represents a unique opportunity to expand into new activities and markets, benefiting from the Group’s multidisciplinary expertise, as well as its presence in over 40 countries across 5 continents. With a turnover of €1.15 billion in 2024, the Artelia Group now has over 10,000 employees worldwide to support its customers in all their infrastructure, building and industrial facility projects, as well as ecological and digital transformation. Founded in 2007, LCI has grown into one of Australia’s leading building engineering firms, with six offices across Sydney, Melbourne, Brisbane, Canberra, Perth, and Adelaide. With a team of over 300 employees, LCI delivers comprehensive design and engineering services across a wide range of sectors, spanning healthcare, data centres, commercial buildings and defence. Its portfolio includes landmark projects such as Crown Towers Sydney, Royal Adelaide Hospital, Victorian Comprehensive Cancer Hospital, and Atlassian Sydney Headquarters. LCI has enjoyed sustained growth in recent years, generating sales of almost 40 million euros in 2024.

12. Atturra expands into the US via its acquisition of Kitepipe

After weeks of speculation, sovereign Australian IT consultancy Atturra has now officially expanded into the US via its purchase of North Carolina-based Kitepipe. Publicly on the cards for the past couple of months, Atturra has now formally acquired Kitepipe for around $3 million, with the Wilmington-headquartered Boomi partner having further outlets in Phoenix, Denver, Philadelphia and Washington DC, along with a global offshore support team based in the Philippines. Described as now one of the largest providers of its kind in the world, Kitepipe was established by CEO Larry Cone in 2011 with a view to providing specialised cloud integrations and services focused on the Boomi platform, with specific expertise in the biotech, finance and healthcare sectors among other areas.