Atturra Acquires Exent To Expand National Footprint
The transaction is slated for completion by the end of July 2024, subject to customary closing conditions.
Samiksha Jain July 17, 2024
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Atturra Limited, a prominent player in advisory and technology services, has announced its acquisition of Exent Holdings Pty Ltd, a Brisbane-based advisory and consulting firm specializing in business transformation.
Atturra Limited is an ASX-listed technology business specializing in enterprise advisory, consulting, and IT services across various sectors including local government, utilities, education, defence, federal government, financial services, and manufacturing. Known for its partnerships with leading global providers, Atturra serves some of Australia’s largest public and private sector organizations.
Strategic Atturra Acquisition for Expansion
The acquisition, facilitated through Atturra’s subsidiary Atturra Advisory Pty Ltd, marks a strategic move aimed at enhancing Atturra’s advisory capabilities beyond its traditional Canberra and Defence sectors, extending its footprint nationally.
Under the terms of the agreement, Atturra will initially pay $6 million in cash for Exent, with an additional $2 million potentially payable post-completion, contingent on Exent achieving specified performance targets in the first half of FY25. The transaction, structured to leverage Exent’s forecasted EBITDA contribution, values the acquisition at a multiple of 6.5 times, excluding integration costs projected to be under $400,000.
Exent, known for its expertise in vendor-neutral business transformation advisory, specializes in guiding organizations through comprehensive technology, process, and people-centric transformations. With a strong presence in sectors such as aged care and health, Exent has earned recognition for its innovative approach and client-focused outcomes, ranking among Australia’s fastest-growing firms.
Stephen Kowal, CEO of Atturra, expressed enthusiasm about the acquisition, highlighting Exent’s proven track record and strategic fit with Atturra’s growth strategy. “As businesses increasingly seek comprehensive advisory services for technology change initiatives, the acquisition of Exent provides us with a strategic entry into new commercial sectors,” Kowal stated. “We look forward to integrating Exent’s capabilities and welcoming their talented team to Atturra.”
Founded with a mission to innovate the consulting landscape, Exent has built a reputation for delivering transformative outcomes across diverse sectors. Joe Fazzari, Founder of Exent, emphasized the alignment between the two firms in terms of culture and mission. “Atturra’s scale and depth in technology services perfectly complement Exent’s capabilities in complex technology advisory and implementation,” Fazzari noted. “This acquisition propels our shared vision to lead in technology-enabled transformations across Australia.”
Enhanced Service Offerings and Opportunities
Managing Partner of Exent, Phil Fowdar, echoed these sentiments, highlighting the acquisition’s potential to enhance service offerings and career opportunities for Exent’s team. “Joining forces with Atturra allows us to leverage their extensive resources and reputation to further our commitment to delivering impactful client outcomes,” Fowdar remarked. “Together, we are well-positioned to establish a leading full-service advisory firm with a distinct competitive edge.”
The transaction is slated for completion by the end of July 2024, subject to customary closing conditions. Atturra’s acquisition of Exent signifies a significant step in expanding its advisory and consulting portfolio, reinforcing its position as a key player in Australia’s technology services sector.
