Anchorage Capital backs Entage’s acquisition of Rubicon 8
Queensland-based ICT consultancy Entag has picked up Victorian managed services provider Rubicon 8 with the backing of Anchorage Capital Partners, creating a 145-strong East Coast team.
First established on the Sunshine Coast in 2012 before evolving into its current guise in 2020, Entag is closely aligned with Telstra and provides a range of tech and connectivity solutions to enterprise, government, and small-to-medium business clients.
By combining with long-running Victorian managed services outfit Rubicon 8, the newly-charged business can now offer a comprehensive portfolio of cloud and SaaS-based solutions across device management, network, security, and unified communications.
In backing the deal, Anchorage Capital Partners described Entag and Rubicon 8 as two complementary IT advisory and services firms combining to create a provider of scale in a fast-growing sector; “Together, they form a national platform with extensive East Coast coverage, deep technical capability, and a shared vision for growth,” the private equity firm stated.
In announcing its investment, Anchorage added that it will continue to partner with the existing management teams of both companies to accelerate expansion through organic growth and strategic mergers & acquisitions, by leveraging the combined strengths of each business, scaling systems and processes, and deploying its own ‘value-creation’ playbook.
Edward Bostock, who cut his teeth as a director at KKR and is now a managing partner of Anchorage, which is famous for buying and quickly turning around struggling Aussie companies such as Golden Circle and Dick Smith Electronics, said that Entag and Rubicon 8 had both “built outstanding businesses with strong customer relationships.”
Accelerating growth
“We’re excited to partner with both teams to accelerate growth and create significant long-term value for customers,” Bostock stated, with Anchorage adding that the acquisition represented a unique opportunity to drive innovation and strengthen leadership in the technology services sector by supporting Entag and Rubicon8 into their next phase of growth.
Meanwhile, on the ground, Entag CEO Kris Carver, a former area general manager for Telstra on the Sunshine Coast & Central Queensland, said the Rubicon 8 acquisition was a “defining step” in the company’s evolution and marked a significant milestone in its growth journey, setting “the stage for a new era of innovation in Australia’s technology services sector.”
“Customers will gain access to deeper technology expertise, faster innovation cycles, and integrated platforms designed to grow with their business,” Carver said. “This is more than a strategic move, it’s a clear signal to the market that we’re anticipating industry change and focused on delivering intelligent solutions that evolve with our clients’ ambitions.”
Carver continued, “The acquisition of Rubicon 8 enables us to bring together best-of-breed technology services and platforms that are agile, scalable, and aligned with the changing needs of our customers. Whether customers are looking to expand their footprint, co-develop solutions, or engage new customer segments, this is the team to do it with.”
