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.

This West-Australian-based business had been in the same owners hands for many years, and they had reached retirement age and were looking to exit. We created a campaign that focused on sophisticated investors, as we felt they would be the best fit. The campaign reached out to all States and Territories across Australia. We received 119 enquiries from buyers, and dealt with 4 serious parties in the end who reached the offer stage. We negotiated a deal that saw the business sell quickly, and to a very strong buyer at a price the owners were very happy with.

The business specialises in welding supply, sales, service and hire in the Northern Territory. The founding owner was at retirement age and had moved interstate. The time was now to sell the business. We built a target list of suitable prospective purchasers in similar or related industries. It was a tough sell, mainly because of the remoteness of the NT in comparison to the rest of Australia. Our campaign was very successful. It attracted 70 enquiries, and in the end the business was sold to South Pacific Welding Group who are a part of a leading global industrial gases and engineering Company for a price the owner was extremely happy with. The buyer is taking over a very successful business, and it should continue to thrive.