IT services company Brennan IT has bought fellow services provider S Central in an effort to increase its scale.
David Stevens
(Credit: Brennan IT)
Brennan IT managing director and CEO David Stevens confirmed the deal was signed last week, but declined to say how much money was involved.
The acquisition would add 60 people, or 90 per cent of S Central's workforce, to Brennan's 140-150 employees, raising the number of staff to service new customer deals. S Central managing director Peter Mavridis will also join Brennan, but his new role has not yet been decided.
The acquisition was completed to increase Brennan's scale. Stephens said it would likely increase Brennan's revenues by around 50 per cent. They currently run at around $50 million per year.
Both companies operate in the mid market. Stevens said the buy met all of Brennan's acquisition criteria: S Central focused on the mid-market, the buy was earning accretive, and it brought new technologies and regions to the company.
S Central's direct relationship with HP and its Citrix capabilities would deepen Brennan's offering, he said. S Central's customer base in Newcastle would also extend Brennan's reach to regional Australia.
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