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.

Specialist Childcare Broker Hayden Mollard sold this freehold going concern childcare service. A wonderful purpose built centre in the Gold Coast Hinterland, being a sub 60 place service with the Montessori philosophy. We achieved a terrific result with a 5.5x EBITDA on the business and a 6% yield on the freehold. With over 70 enquiries, it resulted in a multi-offer finish, the seller and buyer were both extremely pleased with the outcome and will continue the legacy of this wonderful environment for the local community.

Our first contact was with a client who needed to acquire a business to satisfy his professional permanent residency visa. An innovative deal was designed to meet the Buyer and the Seller’s unique requirements. The Finn team assisted both parties by introducing expert migration agents to assist the Buyer with their visa requirements. A business finance expert helped to secure funding and local independent accounting assisted with the due diligence process. Expert legal services drafted a comprehensive and clear Share Sale Agreement. Finn even provided a real estate referral for the Buyer’s housing needs. The result was a high value, complex transaction completed in under four months.