Quadrant Growth Fund to Acquire ARQ Group Enterprise

11/02/2020 News

The Quadrant Growth Fund (“Quadrant”) has entered into an agreement to acquire the Arq Group Enterprise (“Arq Enterprise”) business from Arq Group Limited (ASX:ARQ) for a price of $35 million. Quadrant will partner in the acquisition with the existing management team led by CEO Tristan Sternson as well as Justin Parcell and Cameron Boog.

Arq Enterprise is well known in the market for creating and implementing innovative digital solutions for governments, businesses and iconic brands. Arq Enterprise’s innovation led approach has seen it win many awards and deliver high-impact, human-centred digital experiences that benefit clients and improve the lives of Australians. Arq Enterprise has delivered step-change solutions to a wide range of industry leaders, from banking and finance apps, to emergency services and travel and entertainment solutions, and even intelligent solutions for our miners, telcos and utilities. Arq Enterprise has a proven track record of delivering step change innovation to 50% of the ASX top 20 companies.

Simon Pither, Partner of Quadrant said “Arq Enterprise is a uniquely placed platform in a high growth sector, with strong capabilities across cloud, data and analytics and mobile.”

Justin Ryan, Managing Partner of Quadrant said “We are excited by the opportunity to work with Tristan and his team to capitalise on the industry tailwinds in this new era of digital outcomes driven by corporate migration to cloud, increasing digitisation and mobility, and growth in data.”      

Tristan Sternson, CEO of Arq Enterprise said “We are extremely pleased to partner with Quadrant as we move forward through this next stage of our growth. We have very talented people who thrive on delivering the most unbelievable and impactful digital outcomes for our clients, and with Quadrant’s focus and expertise alongside ours we are now very well positioned to achieve our strategy”.

Simon Pither, Justin Ryan and Peter Elkhouri will join the board of Arq Enterprise.

Quadrant was advised by PWC, Gilbert + Tobin and LEK.

Writen by Global Administrator, 11/02/2020 News