Alceon takes majority stake in Engage Squared in $25M deal
What's the deal? Australian investment firm AlceonDealroom has a profile for this one. Try Dealroom → has acquired a majority stake in Melbourne-based Microsoft specialist Engage SquaredDealroom has a profile for this one. Try Dealroom → for US$23.3M (roughly $25 million), the two companies said. The consultancy will use the capital to expand across Asia Pacific and deepen its AI capabilities.
Who they are: Founded in 2014, Engage Squared has grown to around 170 consultants and technicians spread across eight offices in Australia, New Zealand, and Japan. A multiple Microsoft Partner of the Year winner and official Copilot specialist, it groups its services around AI readiness, agentic build and governance, business applications, data security, and managed support.
Why now? The deal lands as Engage Squared marks its twelfth anniversary. It is also the first purchase from Alceon's US$64.7M Private Equity Access FundDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Engage Squared plans to expand both its capabilities and geographical reach through potential acquisitions. "The business has established a commanding position within the Microsoft ecosystem, and there is a significant opportunity to invest both organically and through targeted acquisitions," said Zac Midalia, Alceon's head of private equity.
The people moves: Co-founder Alastair Cashen has been appointed group chief executive officer. Claudia Piscitelli, previously chief experience and marketing officer, becomes executive general manager for Australia, and former DeloitteDealroom has a profile for this one. Try Dealroom → HR manager Samantha Manners has joined as head of people and culture. Co-founder Stephen Monk will depart.
The precedent: The deal follows Alceon's sale of IT and managed services firm efex to Advent PartnersDealroom has a profile for this one. Try Dealroom → just under a year ago. Under Alceon's roughly three-and-a-half-year ownership, efex acquired more than half a dozen bolt-ons, with its valuation reportedly climbing from about US$32.4M to as much as US$129.4M.
The signal: Alceon is betting on two convergent themes — the Australian lower mid-market and enterprise adoption of AI. The deal reflects growing investor appetite for consultancies positioned to help large organisations move from AI experimentation to enterprise-scale deployment.
Read more: consultancy.com.au
Image credit: Generated with Gemini
