Business Sales Market Update

Publicly listed cyber security services provider Tesserent plans to acquire cyber security firm Loop Secure as a "strategic addition" to the company for a combined price of $13.5 million. Headquartered in Sydney and containing offices in Melbourne and Brisbane, Loop Secure offers managed security services, governance risk and compliance and offensive security services, as well as a security operations centre in Melbourne. The acquisition is being viewed as a “strategic addition to strengthen Tesserent’s Cyber 360 capabilities”, according to a statement published to the Australian Securities Exchange (ASX), with synergies and opportunities expected through its corporate relationships and skills.

Telstra’s IT services division, Telstra Purple, has acquired internet of things (IoT) specialists Alliance Automation and Aqura Technologies to bolster its capabilities in the field and expand into more verticals. Brisbane-based Alliance Automation bills itself as one of Australia’s largest independent providers of IoT industrial automation solutions and control systems, specialising in technical advisory and design, electrical and automation engineering, cybersecurity services and more. Perth-headquartered Aqura is a subsidiary of ASX-listed surveying services company Veris, and specialises in technology and telecommunications infrastructure solutions.

THE FOLLOWING IS FROM THE BP: Langfields Transport was founded in 1980 by Terry Langfield and since its establishment has been operated by five owners including the current owners, who have retained its business name. This strategy has enabled each of the owners to leverage the high volume of goodwill cultivated in the business over its 40-year operational history. From humble beginnings, the business commenced with one truck and one driver, the original owner, Terry Langfield and today it has a significantly sized fleet and a large geographical reach. Through the strategic efforts and vision of its owners, the business has been able to achieve continual growth.

The transport and charter business was established in the 1950s with a single small bus. Over the next 70 years of operation and two generations of family ownership, the business continued to grow. The long-term TfNSW Government school buses contracts provide services to three local schools.

The transaction was handled by the Bus & Coach division of our Finn M&A team.
A comprehensive reach-out campaign was conducted, with very strong interest from those with the industry looking to expand their portfolio.
In the end the best possible buyer was found and a deal was done.