Private equity firm Alceon has acquired a 50% stake in EFEX, a managed IT services provider (MSP) that supports midsize enterprises in Australia.

According to a Financial Review report:

  • The deal values EFEX at $54.4 million, or 8 times average annual EBITDA (earnings before interest, taxes, depreciation and amortization) across the 2021 and 2022 financial years.
  • The MSP has 18 offices and more than 4,000 business customers.
  • EFEX will seek to triple EBITDA by fiscal year 2026 by shifting print customers to MSP services; expanding to new customers; and acquiring more MSPs.

Key EFEX services span cloud solutions, IT managed services, managed print, IT and data security, and voice and data services.