Queensland-based Peachtree Consulting Group has launched its national expansion plan in earnest with the acquisitions of a local networking security firm and a Melbourne-based consultancy for an undisclosed sum.
With offices on four continents including the Middle East, Asia and the US, Peachtree was on the lookout to bolster its national presence, announcing the acquisitions of AdrenaLAN and Recover Management Systems (RMS).
According to Lee Traill, Peachtree's managing director and founder, AdrenaLAN's network security offerings enable Peachtree to augment its services across a number of verticals including architecture, recruitment, medicine and manufacturing, as well as boosting Peachtree's regional presence through customers like Queensland Rail.
On the other hand, RMS provides Peachtree with the added staff resources the company required to realise its expansion plans into Australia's second largest city.
"We were always looking to go into Melbourne," Traill said. "So you can either acquire [a Melbourne-based company] or bring in the resources from other areas. When we saw there were a number of synergies between our two companies, it was a logical fit."
With RMS' focus on the insurance and finance industries, Peachtree will be able to offer additional data vaulting services as well as capturing some lucrative clients in the process - such as Oil Agents Mutual Provident Society, one of Australasia's largest publicly listed independent insurance brokers.
The move follows nearly a year of looking at potential companies. "At the beginning of the year we started putting feelers out into the market for potential acquisitions," Traill said. "We started to realise the strengths of what other companies could offer."
Largely resource and expertise driven acquisitions, Peachtree is now well positioned to compete for larger contracts as the company looks to grow from its mid market focus into the larger enterprise space.
"Peachtree's ability to secure major deals is strengthened by the acquisition of AdrenaLAN and RMS," Traill said in a statement released by the company.
"What the acquisitions mean to the Peachtree Group is we can offer special services in areas where we were a bit thin on the ground," Traill said. "AdrenaLAN and RMS lets us leverage their services, where six months ago we would have been struggling."
As a result of the acquisitions, Traill said the company is currently looking at a number of potential tenders. The Peachtree Consulting Group, which offers consulting and implementation through business analysis, change management, HRM and CRM solutions, sales force automation, e-business, ERP systems, information architecture, systems programming and project management, is also planning to open an office in Calgary, Canada, by the end of the year.