Defence contractor taps Ad Astra | Healthcare hopeful seeks $50m | Queensland Airport auction delayed

Good evening,

Thriving Canberra-headquartered information technology professional services firm Informatech has tapped Ad Astra Corporate Advisory to find it a long-term funding partner, Street Talk understands.

Sources said the firm, founded in 2015 by a trio of army veterans, is projected to report revenues of $75 million in the next financial year with earnings margins of 15 per cent.

Informatech specialises in government, top-secret defence and national security work, helping deliver information and communications technology projects. Over the last year, it has won close to $25 million of new work, largely from the Defence Department.

The funds will be used to support its next stage of growth as it seeks to capitalise on the opportunities in the national security and defence space as governments commit to upgrading systems in anticipation of cyber threats. Already, high-profile cyberattacks – at the likes of Optus, Medibank Private and HWL Ebsworth – are proliferating.

Informatech’s revenue is projected to tip over $60 million this financial year and has grown every year since it was founded, bootstrapped by the founders. The firm is headed up by Andrew Bridge, a former army officer with more than 12 years in uniform. He oversees more than 200 security-cleared staff.

Private equity players are expected to be among interested parties, but due to the nature of Informatech’s work, funders will be limited to those from allied countries.

Read the full story tomorrow and more on the Street Talk page.

Healthcare hopeful ADTY told interest parties it has a pipeline of 25 practices ready for integration which collectively represent $23 million in underwritten pro forma earnings by the next financial year.

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