Another done deal by Oasis Partners 

Australia’s IT Managed Services sector is a significant and fast-growing part of the business landscape. According to IMARC Group, the Australian managed services market reached approximately AUD $8.5 billion in 2024^[1] and is forecast to grow to around AUD $15.9 billion by 2033^[2]. Unlike many sectors, demand is accelerating rather than flattening — driven by persistent skills shortages, rising cybersecurity threats, and rapid cloud adoption, all of which are pushing more businesses to outsource their technology needs to trusted specialists.

For founders who built their businesses in this space over many years, this is an interesting moment. The sector they helped to create is now one of the most sought-after in Australian M&A. The questions for many is not just is there a buyer, but who the right buyer?

A Market Defined by Consolidation

One of the defining features of the IT Managed Services market right now is consolidation. Larger, well-capitalised MSPs are acquiring founder-led businesses to expand their client base, geographic reach, and technical capability — this is driven by the difficulty to grow organically. It is a faster, more reliable growth strategy, for larger acquirers with cash and a longer-term vision.

For the founders on the sell side, this dynamic is about getting the help to create real options. But not all buyers are equal, and that distinction matters enormously, securing a buyer whose criteria and match’s the features of the being sold as is cultural alignment and trust. This we think is best done through qualification not pitching!       

Platypus Networks and The Virtual IT Department: A Case in Point

A recent example is our client Platypus Networks, a long-standing IT Managed Service Provider serving small-to-mid-sized Australian businesses. Founder and CEO Norm Bardell built a loyal team and a desirable client base over many years before engaging Oasis Partners to find the right home for the business he had worked so hard to build.

After a long and successful career, Norm made the decision to retire. His priority was not simply to sell — it was to find a buyer who would continue to serve his clients with the same care and commitment that had defined Platypus since its founding, and who would give his employees the opportunity to continue doing great work.

The Virtual IT Department (VITD) was a natural fit. A family-owned, people-first MSP with a strong reputation for proactive service and genuine client relationships, VITD reflects the values that Norm built into Platypus from the start. For Norm, finding a buyer who shared his commitment to his clients and his team was every bit as important as the commercial outcome. VITD ticked both boxes.

What This Deal Reflects About the Broader Market

The Platypus–VITD transaction illustrates something we are seeing repeatedly in the IT Managed Services sector: the most successful exits are not simply about price. They are about alignment. When a founder has spent years nurturing client relationships and building a culture, the last thing they want is to hand the keys to a buyer who treats the acquisition as a revenue line rather than a responsibility.

Strategic acquirers who understand this — who can demonstrate cultural fit alongside commercial capability — tend to generate the best outcomes for all parties. Vendors feel confident. Clients are retained. Staff stay. And the acquiring business gets something genuinely valuable: a business that keeps working the way it was designed to.

For founders who are thinking about their own exit, the Platypus story is worth reflecting on. The market is active, valuations are holding, and there are genuinely good buyers out there. But finding the right one requires more than putting a business on the market. It requires a structured, discreet process — one that surfaces strategic interest rather than opportunistic interest, and that gives you real choices.

Congratulations to All Involved

If you are a founder thinking about your exit from an IT Managed Services business — or any established private company — Oasis Partners has been unlocking value for shareholders of private companies since 1984 and has completed over 500 transactions. Speak to us to understand what a uniquely structured, strategic approach to your exit looks like.