◆ Highly Confidential · InfraCo Internal — M&A Screening · Do Not Distribute
InfraCo M&A Target Screening
Internal working view SourceBDO longlist · AI-enriched research Last updated— Prepared byHoward Bowland

InfraCo — M&A Target Screening

Priority A/B target review based on the HPE Silver Partner universe — prepared for M&A screening discussion.
! Screening view only. Findings are based on provided source data and publicly available research. Ownership, financials, acquisition appetite, and commercial fit require direct validation and formal diligence. Australia's mandatory ACCC merger notification regime (effective 01 Jan 2026) is expected to apply to any acquisition in this target band.

Pipeline distribution

Of — companies reviewed in the HPE Silver Partner universe.

Key caveats

  • ! ACCC pre-approval likely required. Australia's mandatory merger notification regime (in force 01 Jan 2026) is expected to be triggered by InfraCo's group revenue against any target in this band. Expect 60–90 days between heads of agreement and completion.
  • i All targets are partially verified. Founder ownership, parent group structure, and revenue assertions were sourced from public records (ABN Lookup, LinkedIn, vendor partner pages, ARN/CRN). None are yet primary-source confirmed.
  • i Adelaide-headquartered businesses are deprioritised, not excluded. Revisit only if the Sydney/Melbourne pipeline fails to convert.
  • i HPE Silver partner tier was provided in the BDO longlist but was not independently verified against the HPE Partner Ready directory for each target. Several targets carry HPE Aruba Gold or Silver Partner of the Year recognition.

Screening Methodology

Five criteria, applied in two stages. Stage 1 determines the Structural Priority using three hard filters: geography, size, and ownership/control. Stage 2 determines the M&A Recommendation using two qualitative layers: strategic relevance and diligence risk.
BDO Category  →  Structural Priority  →  M&A Recommendation
Stage 1  ·  Structural Priority — three hard filters
Structural eligibility, applied in sequence. The output is the Structural Priority tier (A, B, or C with a sub-reason). A target must pass all three filters to be classified A or B.
  1. 1

    Geography

    Headquartered in Sydney or Melbourne with meaningful commercial presence in those cities. Fail → Deprioritise (right profile, wrong city — retained on file, revisit only if the Sydney/Melbourne pipeline fails).

  2. 2

    Size

    20–100 employees and revenue below A$50m. Fail under 20 staff → Exclude: Too Small. Fail over 100 staff or over A$50m → Exclude: Too Large.

  3. 3

    Ownership

    Privately and independently owned — founder, family, or owner-director — with genuine succession optionality. Fail (global/US parent, listed entity, complex group) → Exclude: Unobtainable.

Stage 2  ·  M&A Recommendation — two qualitative ranking layers
Applied only to targets that pass Stage 1. AI-enriched research data is judged against the two layers below to produce the M&A Recommendation — the next step we take on each target. It refines but does not override the Structural Priority.
  1. 4

    Strategic relevance to InfraCo

    Verified HPE relevance plus credible cybersecurity, cloud/infrastructure, data/AI, and adjacent vendor/ecosystem capability. Reseller-only or single-vendor exposure is a concern. A stronger capability profile lifts ranking within Priority A.

  2. 5

    Risk and diligence flags

    Entity ambiguity, recent restructures, parent/group exposure, customer concentration, undisclosed shareholders. More flags reduce confidence and can push a target from Priority A to Priority B pending investigation.

Important. The AI-enriched research data (vendor partnerships, HPE / cyber / cloud signals, certifications, risk flags) drives the M&A Recommendation only. It cannot upgrade a target's Structural Priority. A target with outstanding capability signals but a global parent (failed Stage 1, Filter 3) is still Structural Priority C and recommended Exclude.
Priority assignment
Priority A Approach first. Passes all three structural filters. Strong strategic relevance, minimal or explainable risk flags.
Priority B Qualify before approach. Passes geography and size; ownership, capability, or risk flags need one more round of verification.
Priority C · Exclude Fails Filter 2 or Filter 3. Permanent structural disqualifier — capability is irrelevant.
Priority C · Deprioritise Fails Filter 1 only. Right profile, wrong city. Retain on file.

Master list

— entries from the BDO longlist · 11 advanced for AI-enriched review. Click a row to open the company detail.
Structural Priority
M&A Recommendation
Location
Verification
Confidence
Company Structural Priority Location Employees Ownership signal HPE relevance M&A Recommendation Confidence Verification Key risk flag

Targets

    Evidence & audit trail

    Per-target verification status, confidence, source URLs, and known caveats.
    All targets currently Partially Verified
    Company Verification Confidence Last verified Evidence URLs Ambiguity / caveat