Konekt Limited – acquisition of Mission Providence

• Mission Providence is an Australian employment services provider, formed as a joint venture between The Providence Service Corporation and Mission Australia to deliver services under the Australian Government’s jobactive program
• Miles advised the shareholders of Mission Providence on the sale of the business to ASX-listed Konekt Limited, a provider of return-to-work and workplace health solutions
• The acquisition diversified Konekt’s business and expanded its service offering, with Mission Providence operating as a stand-alone division retaining its locations and staff

Industry Context

Australia’s outsourced employment services market is shaped by government program cycles and the scale required to compete for and deliver national contracts. Providers have pursued acquisitions to diversify revenue, add contracts and broaden their human services capability. Consolidation allows operators to spread fixed costs and build an integrated offering across employment, health and rehabilitation services.

Further information on this transaction is available at: Konekt / Mission Providence Press Release and Konekt / Mission Providence AFR Article