Brennan secures Macquarie investment to fuel its next growth chapter
Technology consulting and services firm Brennan has secured an investment from Macquarie Capital in order to fuel its future growth, including through acquisitions and further expansion.
The minority investment from Macquarie Capital Principal Finance follows Brennan’s recent moves to reposition itself in the market, from a managed service provider to a full-service systems integrator, reinforced by a major rebranding.
Already with a headcount exceeding 1,000 advisors and technicians across eight Australian offices, Brennan said the capital injection would ‘supercharge’ its next phase of growth, including through acquisitions and further expansion, potentially overseas.
“Through Macquarie’s support, we expect to continue our focused growth trajectory by making significant strategic acquisitions and continuing our investment in cutting-edge sovereign capabilities in AI, automation and cybersecurity,” said managing director Dave Stevens. “It also provides us with the opportunity to explore international growth opportunities.”
Stevens, who founded the company almost three decades ago in Sydney and remains its majority shareholder, had previously hinted at a potential IPO following the firm’s purchase of MOQdigital in 2022, but said the Macquarie investment marked a major milestone in its evolution. He also previously said future acquisition targets would be in the range of $30 million and up.
Since then, Brennan has added managed services provider Nuago in Adelaide and cloud and security specialist CBR Cyber in Canberra, already furthering its stated national expansion agenda with additional locations in Newcastle and its newly-established Tasmania branch alongside each mainland capital and offshore service delivery centres in South Asia and the Philippines.
Next chapter
A Deloitte Technology Fast 50 entry way back in 2004, Brennan today generates revenues in the ballpark of $300 million after having grown by an average of more than 20 percent per annum since its 1997 inception, while the firm has an already-established relationship with Macquarie, previously noting the bank’s strong understanding of the technology sector and its opportunities and risks.
Speaking on their expanded relationship, Brennan chair Brendon Cook said Macquarie’s investment was transformative: “It not only strengthens the company’s balance sheet but is also important for our vision and growth strategy. Macquarie’s support will allow us to scale at an even faster rate, further integrating secure AI-driven solutions that will empower our customers.”
Brennan also said the cash boost would improve its ability to bid for and win large Australian government contracts. Earlier this year, the firm disrupted the market by launching a ‘fixed-fee, fixed-outcome’ pricing model for its integrations, giving extra confidence to prospective clients that they can avoid the all-too-common cost blow-outs associated with digital transformations.
