First Five Group acquires Risklogic and Firstaction: creates Australian market leader
- Published: Wednesday, 02 October 2019 14:00
First Five Group has announced that it has acquired two of Australia's best known crisis management and emergency preparedness businesses, RiskLogic and FirstAction.
First Five Group says that the move creates Australia's most comprehensive and experienced family of companies in the risk, safety, crisis & emergency management and business continuity markets, providing end-to-end services covering these areas.
First Five Group already owns and holds controlling shares in a range of three specialist business units – First 5 Minutes, Sky5 and Sharp5, which collectively service multiple industries including education, government & municipal, aged care, sport & leisure, construction, property, retail and resources sectors.
On 25th September 2019, First Five Group acquired Sovereign Capital Group which comprises the RiskLogic and FirstAction businesses. Both businesses were founded and privately owned by Sydney entrepreneurs and brothers, Dan and Joshua Shields.
First Five Group CEO James McNamara said of the acquisition: "We are excited to welcome RiskLogic and FirstAction to the First Five Group. Both businesses will complement our existing First 5 Minutes, Sharp5 and Sky5 entities. Today's announcement will provide our portfolio of companies the opportunity to accelerate growth through this broader service offering to an even greater cross-section of businesses and industry sectors."
RiskLogic will continue to operate as a standalone operation, with no changes to management or personnel. The FirstAction business will be combined operationally with the larger First 5 Minutes entity to provide scale benefits to FirstAction staff and customers. All FirstAction staff are expected to become part of the enlarged business ensuring current clients experience a seamless transition.
McNamara stressed there were no anticipated job losses as a result of the acquisition: "Dan Shields will continue in his role as CEO of RiskLogic, while Phil Archer and Rowan Allsop from FirstAction will join the expanded Emergency Preparedness business comprising First 5 Minutes and FirstAction.”
By bringing RiskLogic into the fold, First Five Group will now be able to offer a range of new risk and resilience services to its clientele, with RiskLogic also reaping the benefit of being able to provide its services, and those of the First Five Group, to new industries that it has not traditionally dealt with until now.
RiskLogic CEO and Co-Founder Dan Shields was positive about the acquisition saying: "Josh and I started RiskLogic 15 years ago and added FirstAction in 2012. We now have hundreds of loyal clients across Australia, New Zealand, Asia, Europe and the US, and we are extremely proud of what we have contributed to the resilience industry. We welcome the acquisition, with First Five Group sharing the same philosophy and ideals as RiskLogic, and the change of ownership will enable both RiskLogic and FirstAction to focus on business expansion in Australia, New Zealand and other global markets.”
Joshua and Dan Shields will continue to privately own Catalyst Technologies which has developed world-class technology solutions for crisis and emergency management. Joshua will assume the role of CEO for Catalyst Technologies where the strong strategic partnership with RiskLogic and FirstAction will continue.
First Five Group's James McNamara concludes: "This acquisition is a win-win for all parties, which will continue to operate independently but will have the benefit of growing together with the capital support of First Five Group. The major advantage will be the ability for all of our companies to provide additional and integrated emergency response and crisis management solutions for our clients, ensuring they have a true 'one-stop-shop', when it comes to out-of-home safety solutions, regardless of their business type."