The Queensland business has been purchased by managed IT and print specialist EFEX for an undisclosed amount.
CRN reports that the deal is due to bring the companies together to create “an 11-bureau managed services and print powerhouse.” It will combine Think Office Technology’s eight locations and more than 70-strong workforce from across Queensland with EFEX’s existing portfolio, creating a combined company “with an expected annual turnover of more than $65 million (€55.7 million) and a headcount of about 115,” Nick Sheehan, EFEX MD, elaborated.
As a result of the deal, EFEX’s current three-office footprint will expand to include Think’s branches in Cairns, Townsville, Emerald, Gladstone, Mackay, Brisbane, Toowoomba and Sunshine Coast.
Sheehan opined that Think, which is presently a subsidiary of FlexiGroup, was “Konica Minolta’s biggest dealer in Australia”, and that EFEX, which was founded in 2013, “was one of Kyocera’s biggest.”
“Think is the best regional asset in Australia,” he continued. “This gives us the greatest geographical footprint of any of the ‘non-manufacturers’ in the managed print and wider managed services space. Also – having FlexiGroup Limited as a shareholder is a huge win for us and will underpin further growth in the future.”
Sheehan added that whilst no formal branding decision had yet been made, the intention was for the two companies to become a single brand by 2019.
“We’re keen to preserve the inherent value of Think in regional Queensland, and build on the growth story of EFEX in Sydney, Melbourne and Adelaide,” he said.
