Pemba Capital Partners has taken a 50 percent stake in Melbourne-based cybersecurity business ctrl:cyber.
The ctrl:cyber (Ctrl) team sought a capital partner to accelerate its growth and solidify its status as a “top-tier cybersecurity provider”, the company stated.
Ctrl was founded in 2017 by CEO Steve Williams and has a team of more than 50 specialists. Through its Risk Operations Centre subscription service and supporting service pillars, it supports a portfolio more than 300 clients including Toll, Charter Hall and NIB.
Pemba liked Ctrl’s focus on “high-value subscription services, standing apart from traditional competitors reliant on time-and-materials engagements and licensing-based revenues.”
Ctrl’s “founder-led approach” also resonated with Pemba, an investor in high-growth, founder-led businesses.
The partnership has been nearly a decade in the making, Williams stated in an announcement published by Pemba.
“It’s rare to find a partner that not only understands your vision but has the patience and trust to wait for the right moment to join forces,” Williams stated. “I look forward to Ctrl realising its full potential as ANZ’s number one cybersecurity provider with Pemba’s backing.”
Pemba stated that combining "Pemba’s previous success within cyber and Ctrl’s expertise crafted over a decade long period, we will not only accelerate growth via a targeted acquisition strategy but enhance organic growth through compounding an already successful strategy.”
The investor is “actively looking” to partner with other high-quality opportunities in specialist IT services.
Its previous cybersecurity activities include merging Shelde and Revolution IT to become Ampion in 2019, before eventually exiting Ampion to Wipro.
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