)
Sydney-based business solutions provider Efex, backed by private equity group Advent Partners, has boosted its presence in regional Queensland through the acquisition of Priority 1 IT, a specialist in the healthcare and medical IT sectors.
Founded in 2013 by Jamie Patch, the Toowoomba-headquartered Priority 1 is a provider of IT support for medical centres, healthcare practitioners and businesses across Darling Downs and regional Queensland.
Efex says the business has generated strong growth since inception, providing its services to more than 600 companies in the region.
The acquisition comes on the heels of Melbourne private equity group Advent Partners last year securing a majority stake in Efex to accelerate the pace of acquisitions which has seen Efex absorb six businesses over the past two years.
Efex CEO Nick Sheehan says Priority 1’s strong regional position, quality team, healthcare capability and alignment with Efex’s technology environment made the business a natural fit. He says the deal also reflects the group’s confidence in regional Australia over the long term.
“Priority 1 is the market leader in the Darling Downs and anything west of Brisbane, which bulks up our technical capability and allows us to reach clients that require more complexity and local boots on the ground,” says Sheehan.
“They have great clients, excellent staff, alignment on tech stack and operate in a region that we’ve long believed strongly in from a growth perspective. Importantly, they also strengthen our healthcare capability, which is an area we see as strategically important for Efex.”
Sheehan established Efex in 2013 as a print reseller in Sydney but since then has grown the business to become a national technology services specialist with more than 300 employees, a client book of 7,500 customers and operations across 22 locations in Australia.
The Priority 1 acquisition is expected to expand Efex’s technical capability and enhance its ability to support customers that require more complex solutions, while also building on the company growing healthcare focus.
Efex sees the Queensland business as highly complementary with strong alignment across technology, service delivery and “growth ambition”.
Patch, the founder and director of Priority 1, says the acquisition presents an "exciting new chapter" for the business, its customers and its team.
“Priority 1 has always been focused on delivering dependable, high-quality technology support for businesses across our region, including healthcare providers,” says Patch.
“Joining Efex gives our clients access to broader capability and deeper resources, while preserving the local service and trusted relationships that have been central to our success.”
Financial details of the acquisition have not been disclosed.
Previous acquisitions in the healthcare sector by Efex include Medihost Solutions, a specialist medical IT provider based in Sydney.
Earlier this year, Efex announced the acquisition of Compusult, a Shepparton-headquartered managed services provider which supports organisations across regional Victoria, primarily the Goulburn Valley.
)
