EFEX Group acquires Adelaide's Logic Plus

6 months ago 62

EFEX Group acquires Adelaide's Logic Plus

Nick Sheehan (EFEX Group)

Sydney’s EFEX Group has acquired Adelaide-based managed services provider Logic Plus for an undisclosed sum.

EFEX said the acquisition would “significantly” increase its national footprint and make Adelaide its largest regional presence.

Logic Plus, which has some 80 staff and 1000 customers, specialises in IT, print, data security and voice and data services.

EFEX added the two businesses are complementary, enabling them to offer more solutions to clients with a comprehensive and fully outsourced managed services offering.

”This acquisition allows us to cement our presence in Adelaide. South Australia is a major focus, so we're delighted to have the opportunity to welcome Joanna and her fantastic team to our business,” EFEX chief executive Nick Sheehan said.

“We see South Australia as a major source of talent for efex’s national roles, both within the acquired Logic Plus business, and as a regional talent pool. On a personal level I love South Australia and already spend the vast majority of my time based here, in the Adelaide Hills. I look forward to getting to know the team and their clients.”

Logic Plus will continue operating autonomously “for the foreseeable future”, while chief executive Joanna Chronis will remain as the team’s leader. Chronis will also work alongside EFEX SA branch manager Dean Brogan.

Speaking on the acquisition, Chronis said, ”For the Logic Plus team it was important that the business stayed with a company that's committed to South Australia.”

“Both Logic Plus and EFEX are businesses that understand the importance of operating at a local level, as we know that’s what our customers want.“

The acquisition follows EFEX Group securing an investment from Alceon Private Equity in December 2021, selling a 50 percent stake of the company for $29.5 million.

At the time, Sheehan said EFEX is aiming to triple its EBITDA by FY2026 through its ongoing conversion of print customers to managed IT services customers, an upcoming internal warehouse facility, new customer acquisitions and further mergers and acquisitions.

Also in 2021, EFEX acquired Wollongong-based BMS Group to expand its presence in New South Wales, adding 30 employees and an Illawarra region-based office.

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