efex has announced the acquisition of Adelaide business Logic Plus.
efex says it has identified South Australia as an important hub for its business due to the volume of larger sized SMEs with complex IT requirements. efex employs 170 people nationally with a small team of 6 based in Adelaide.
The Logic Plus business will operate autonomously for the foreseeable future, with efex saying it is keen to preserve the goodwill and strong local reputation of Logic Plus. The South Australian Logic Plus business will continue to be led by CEO Joanna Chronis, working alongside efex’s SA branch Manager Dean Brogan. Both will report to efex CEO Nick Sheehan.
Nick Sheehan, CEO efex commented, ”This acquisition allows us to cement our presence in Adelaide. South Australia is a major focus, so we are delighted to have the opportunity to welcome Joanna and her fantastic team to our business. 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. We are excited to work with the team to enhance their ability to service and scale clients with great products and services.”
The acquisition follows the December 2021 announcement that efex has secured investment from Private Equity firm Alceon Partners, taking a 50% stake in the business. efex was started by Nick Sheehan in 2013 and has grown to 18 branches and more than 6000 business customers. This latest deal also follows the 2021 acquisition of The BMS Group (BMS) in the Illawarra region of New South Wales.
Joanna Chronis, CEO Logic Plus added, ”For the Logic Plus team it was important that the business stayed with a company that is 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. Our team are really excited to have the opportunity to benefit from the strength and scale that a national business like efex can offer, with the confidence that Adelaide is a major centre for growth of the business.”
efex Branch Manager Dean Brogan concluded, “Logic Plus is a fantastic local business with a team of people who have earned the respect of their clients over the long term. I hear this time and time again in the market. Our clients also value a long-term partnership and our expertise as a one stop shop, so we can look across their whole business to make buying, installing and managing technology simple for companies wanting to get on with business. We are a great match.”
Nick concluded, “The acquisition made perfect sense for efex and demonstrates our strategy to grow organically, as well as by acquisition when there are opportunities to acquire businesses like Logic Plus with a strong local foothold. Our recent investment from Alceon was secured based on our plans to expand and our impressive growth trajectory. This new acquisition delivers on that vision. I love South Australia and already spend the vast majority of my time based here, in the Adelaide Hills.”
