Atturra targets Growth Fund’s Plan B operation

Atturra is considering buying The Growth Fund’s business Plan B.

The $340m listed IT solutions provider Atturra has made no secret of its plans for acquisitions, and some think Sydney-based private equity firm The Growth Fund could be an opportunity.

Atturra is considering buying The Growth Fund’s business Plan B, which provides information and communication technology solutions and continuity products, as well as white label wholesale services.

The Growth Fund bought into Plan B in 2018 with help from advisory firm Blackpeak Capital to help accelerate its growth in New Zealand through new services, partnerships, joint ventures and acquisitions.

Atturra, which has offices in Australia, NZ, Singapore and Hong Kong, raised $50m of equity on the ASX in December.

Its strategy has been to roll up telecommunications businesses.

A purchase of Plan B could be transformational, giving it the ability to take on larger telecoms players in New Zealand such as Spark and 2 degrees.

For the year to June it generated $243.4m of revenue and $25.5m of underlying EBITDA, up 21 per cent on the previous corresponding period.

It has expanded into education and manufacturing through targeted acquisitions.

It bought the Silverdrop business in August last year, Sabervox in September and Cirrus Networks in December.

Other acquisitions include HSD, Somerville and Extent.

Clients include Alliance Airlines, VetPartners, not-for-profits, schools and councils.

Atturra provides end-to-end solutions in advisory and consulting, business applications, cloud business solutions, data integration and managed services.