Comms Group (ASX:CCG)

Acquisition of onPlatinum Holdings

Henslow is pleased to have acted as M&A Corporate Advisor to Comms Group (ASX:CCG) on the acquisition of onPlatinum Holdings Pty Ltd (onPlatinum), trading as OnPlatinum and Tango Technology. Founded in 2012 and headquartered in South East Queensland, onPlatinum represents a transformational acquisition for Comms Group, increasing total group revenue by ~45% whilst also expanding the product offering to include managed IT and cloud services creating cross-sell opportunities across Comms Group’s existing customer base. The acquisition is consistent with the Comms Group’s growth strategy, increasing their domestic footprint into the strategically important Queensland market, adding high-quality mid-market corporate customers, and expanding the product offering in the managed IT services vertical.

Adding scale to Comms Group's existing business

Comms Group is a leading business Telco service provider with a broad product suite servicing SME & corporate mid-market customers and wholesale & partner customers. The company is well positioned to take advantage of strong growth in the corporate ICT market.

The Highlights

  • $7m+

    Annualised Underlying EBITDA

  • $12.0m


  • $6.0m

    Earn Out Component

Expanding Global Network

This is the fourth acquisition Henslow has advised Comms Group in the last 18 months, and highlights our ability to work with clients across multiple transactions to achieve their growth ambitions. We look forward to building upon our relationship as they continue their progression of becoming a leading provider of cloud communications and UCaaS solutions throughout the APAC region.


February 2022

Acquisition of onPlatinum

August 2021

Acquisition of Switched On Australia

April 2021

Acquisition of Binary Networks

January 2021

Acquisition of Next Telecom

December 2020

$6.25m Placement completed

We are extremely pleased to welcome onPlatinum’s CEO Shannon Overs and his team to Comms Group in both QLD and NSW. We are committed to driving sustained growth within the business and the acquisition of onPlatinum allows CommsGroup to further strengthen our position in the corporate mid-market by extending our product offerings and provides expansion into the strategically important Queensland market.

Peter McGrath, Comms Group CEO & Managing Director