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Agentbox has revealed new plans to double its size across Australia and New Zealand over the next two years.
Alongside Accel-KKR, who had acquired Agentbox in 2018 for the Reapit Group, the business is “now strongly focused on the acquisition of Australian and New Zealand proptech software businesses that are well positioned for top-line and bottom-line growth”, said Agentbox chairman Eddie Cetin.
The chairman acknowledged the plans for expansion have seen the onboarding of a new team member to the Sydney-based team, Simon Cashman, who has been appointed as the new general manager of Agentbox for the Asia-Pacific region.
Mr Cetin said that Mr Cashman brings “over 20 years of experience in proptech and agency frontline”, and his onboarding will enable the current chairman to spend more time on delivering an “ambitious” M&A strategy.
It’s not the only new appointment to the wider Reapit Group, with Reapit revealing that Mark Armstrong had accepted the position of group chief executive officer, effective January 2021.
The statement from Agentbox acknowledged Mr Armstrong as bringing more than 30 years of experience in the enterprise IT industry to Reapit.
Commenting on the expectations for growth, Accel-KKR managing director Park Durrett said: “We are delighted with the success of our Australia and New Zealand portfolio businesses and are actively investing in the region.”
He said the APAC business has grown significantly through organic growth and M&A since 2017, with Accel-KKR “continuing to make significant investments in Agentbox, including a funded strategy in the New Zealand market”.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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