30 Sep 2014

Brennan IT lifts lid of $30M warchest for acquisitions

● Market Leader accelerating its market growth strategy

● Acquisitions targets to be within the managed services and mid-market cloud space

Sydney, Australia – 30 September, 2014 – Leading Australian managed services provider, Brennan IT today announced they will be expanding on preeminent growth, with the company revealing a $30M warchest to aggressively pursue acquisitions and investment within infrastructure over the next twelve months. More funds are potentially available to the right deal. This comes off the back of a record breaking September for Brennan IT, which saw the company have its most successful month in its 17 year history, winning 7 new clients each worth over $1M.

The announcement comes immediately off the back of winning two top gongs at the annual Microsoft and HP Partner Awards, hosting partner and New Style of IT categories respectively, as well as a strong period of growth with the company expanding its national team to over 250 employees while growing revenue in excess of 20% last year and EBITDA by over 30 percent.

Founder and managing director of Brennan IT, Dave Stevens says the timing is right to ramp up the next phase of the company’s growth strategy.

“Market sentiment is the best it has been in a while and with our strong track record of profit and year-on-year growth, we are in the perfect position to pursue growth opportunities.”

Brennan IT will keep a focused outlook on potential acquisitions and is keen to explore deals within managed services, mid-market cloud or telecommunications. The ideal deal needs to demonstrate strong contracted revenue, mid market clients as well as bring to Brennan IT either new products, IP or help extend its geographic footprint with new locations.

“Our last deal was three years ago and we are open to exploring the right opportunity. As a business our sweet spot continues to be the mid-market – 50-1000 seat businesses. We have built a powerful delivery model around servicing this sector to ensure that everything from advice, solutions, product – even our contracts and SLA’s – are attuned to this sector’s needs. For this reason, any deal we make needs to build towards strengthening our offer to this segment of the market. If there is a company out there that thinks they fit the bill, then we would love to hear from them,” says Stevens.