efex to buy onPlatinum from Comms Group for AUD $30m

efex has agreed to acquire onPlatinum from Comms Group for AUD $30 million, in a deal covering the ASX-listed telecommunications company's IT managed services division.

The transaction is subject to customary completion adjustments and conditions precedent. Queensland-based onPlatinum provides managed IT, cloud, cybersecurity, communications and related technology services to business customers across Australia's eastern seaboard.

For efex, the purchase is the latest step in a broader acquisition drive in the managed services market. Backed by Advent Partners, the company has been expanding through a series of deals aimed at increasing its presence across regional and metropolitan Australia and adding specialist services.

According to efex, onPlatinum brings a customer base with more than 7,000 endpoints. The business has focused on larger multi-site organisations in the corporate mid-market, an area where efex is seeking a stronger position.

Customer and employee continuity will be the immediate priority after completion. efex and Comms Group will also work together under a 12-month transition services arrangement to support customers, suppliers and employees.

The acquisition is one of the larger transactions announced by efex as it builds out its national platform. Founded in Sydney in 2013, the company now operates from 22 locations and serves more than 7,500 customers across Australia and New Zealand.

Advent Partners acquired a majority stake in efex in 2025. That investment has supported efex's push to consolidate the fragmented managed technology services market, where operators often combine local customer relationships with specialist technical teams.

Expansion drive

Recent purchases by efex include Datcom, Medihost Solutions, Priority 1 IT, Crowd IT, Compusult, Aish IT and Wyscom. Those deals added cybersecurity services, healthcare and medical IT expertise, and a broader geographic footprint.

The onPlatinum acquisition also deepens efex's presence in Queensland and along the east coast. It expands coverage across managed IT, cloud, cybersecurity, unified communications, business resilience and managed document services.

Nick Sheehan, Founder and Chief Executive Officer of efex, said the company was aiming to grow its national reach while keeping the local service model that many managed services customers prefer.

"onPlatinum is exactly the kind of business we like to bring into efex - a high quality team with deep customer relationships and real technical credibility. It takes us further into the mid-market: the larger, multi-site organisations that need enterprise-grade IT but still want a partner who picks up the phone and knows them by name. That's the business we're building - national scale and specialist depth, delivered with local accountability - and we're building it by backing and building great teams, not by acquisition alone," said Nick Sheehan, Founder and Chief Executive Officer of efex.

That focus on continuity will shape the first phase after the transaction closes.

"The first job in any acquisition is to respect what made the business successful in the first place. For onPlatinum's customers, suppliers and people, that means continuity and familiar faces from day one - and, over time, more capability, more specialist services and the strength of the broader efex platform. They earned their reputation by staying close to their customers; our job is to protect that, invest in it, and build from it," Sheehan said.

Mid-market focus

Founded in 2012, onPlatinum has built its business around managed IT services for companies that need support across multiple sites. efex said the target's ITIL-aligned managed services and virtual-CIO advisory work would add more structure and strategic relationship management in the mid-market segment.

Comms Group's sale of onPlatinum marks a change for the managed services unit after more than a decade of growth. The business has built a reputation for relationship-led service delivery and practical support, particularly for customers seeking a close working relationship with their provider.

Shannon Overs, Founder and Chief Executive Officer of onPlatinum, said the transaction would give the business access to a broader organisation while preserving its existing customer ties.

"We built onPlatinum around a simple idea - high tech, high touch - and that has never changed. Joining efex gives our customers and our team the backing of a national platform and a broader set of capabilities, while keeping the local relationships and service they value. It's the right home for what we've built, and an exciting next step," said Shannon Overs, Founder and Chief Executive Officer of onPlatinum.