Schwartz-backed Armitage Associates finds merger partner for Tecala

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The growth equity investor picked up a significant minority stake in Tecala in August last year, turbocharging the IT services group’s expansion plan.

joined the group’s board as part of the deal, along with industry veteran Steve Nola.

The firm typically cuts $10 million to $30 million cheques for profitable companies. Its other investments include doctor-led specialist disability and aged care support services group Maxlife Care, registered training organisation Demi International and biomedical equipment provider Mediquip. RapidMATION assists clients in areas such as digital transaction and process automation, offering services like chatbots and AI.

Plans for the new merged entity centre around integrating the two businesses to grow automation products and services, including into the existing Tecala customer base. has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

 

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