Atturra Limited, formerly FTS Group, has announced it has acquired Brisbane-based managed services provider and ERP specialist Kettering Professional Services for $3 million upfront.
The acquisition is the IT services company’s first since going public on the Australian Securities Exchange in December 2021.
Kettering, which has been named in the 2010, 2018 and 2019 editions of the CRN Fast50, specialises in the implementation, management and ongoing support of ERP solutions in the manufacturing sector, specifically with vendor QAD Inc. Kettering is also the vendor’s sole Australian channel partner.
In its ASX announcement, Atturra said the acquisition would make it a market leader in QAD ERP solutions in Australia and increase its manufacturing client base to over 50 nationally. Kettering would also bolster Attura’s other business units Cloud Applications, Data and Integration and Business Applications with more client acquisition opportunities.
“I am very pleased to welcome the Kettering team to Atturra. Kettering has a strong reputation in the manufacturing industry and is the only operating QAD partner in our focus market Australia,” Atturra chief executive Stephen Kowal said.
“Kettering is not only a cultural match with Atturra but aligns perfectly with our strategy of being a leader in selected technologies and industries. QAD, Atturra and the Kettering management team are already engaged in looking at expansion opportunities in the market.”
Kowal added the partnership between Atturra vendor partner Boomi and new partner QAD would provide additional opportunities for the company.
“We believe we have the largest team of Boomi consultants in Australia and this allows us to service Kettering’s existing client base and any new clients even better,” he said.
Kettering founder and chief executive Rob Cheesman said, “The long-term future of our business, team and clients has been my driving purpose for the last 16 years. With that in mind, last year I began the search for an organisation that could take us to the next level while retaining what is best about us. I believe Atturra is an ideal fit for that.”
“Selling Kettering is probably the hardest and most important business decision I will ever make but I am very excited about the opportunity for our staff and clients to benefit from the vision, scale and breadth of offerings that Atturra brings.”
In the announcement, QAD vice president of ANZ and Japan Darren Read said, “We are very supportive of and excited about this next step in the journey for Kettering and look forward to working with Atturra.”
“It is a great match as we believe the size, scale and focus of Atturra brings benefits to us and our customers whilst the QAD solution is a valuable addition to Atturra’s portfolio.”
The purchase price comprises a $3 million upfront cost and up to $2.25 million in deferred consideration payable once certain milestones are hit. The acquisition is expected to complete on 1 March 2022.
Atturra listed on the ASX on 22 December 2021, after raising $24.8 million through its initial public offering to value the company at around $100 million. The funds were to be used for Atturra's growth strategy, including the acquisition of Kettering.
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