Anchorage Capital Partners has instantly created a nationally significant player in the information and communications technology services sector.
The Sydney private equity firm has taken a 70% stake in Queensland-based ENTAG which provides information technology services to government, enterprise and small business customers.
The Anchorage investment enabled ENTAG to enter into its acquisition of Rubicon 8 which provides similar services in Victoria.
The ENTAG investment is the fifth from Anchorage’s $500 million Fund IV which is now more than 50% deployed.
Anchorage Capital managing partner Edward Bostock said the acquisition highlighted the opportunity to build a market-leading IT services platform.
“ENTAG and Rubicon have built outstanding businesses with strong customer relationships,” he said. “We’re excited to partner with both teams to accelerate growth and create significant long-term value for customers.”
ENTAG chief executive Kris Carver said the Anchorage investment was a defining moment for his company.
“This is more than a strategic move, it’s a clear signal to the market that we’re anticipating industry change and are focused on delivering intelligent solutions that evolve with our clients’ ambitions,” he said.
“By combining our resources and the expertise of our now 145-strong team, we’re unlocking new levels of scale and market access across endpoint device management, network, security, unified communications, cloud, ICT managed services, and physical security solutions.”
Together, ENTAG and Rubicon’s strategic partners include Telstra, Microsoft, Apple, Fortinet, Verkada and Samsung.
Anchorage received financial advice on the transaction from Allier Capital, GreenMount Advisory and McGrathNicol and legal advice from Corrs.
Image: Anchorage managing partner Edward Bostock.