trending Market Intelligence /marketintelligence/en/news-insights/trending/nIbso_YFb-i2ihwAkNJe3w2 content esgSubNav
In This List

Azimut's Australian unit acquires another local financial planning firm

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Azimut's Australian unit acquires another local financial planning firm

Azimut Holding SpA's Australian unit AZ Next Generation Advisory Pty. Ltd. signed a binding sale and purchase agreement to acquire the entire share capital of Sydney, Australia-based Henderson Maxwell for a total purchase price of about A$11.6 million.

The agreement includes a share swap of 49% of Henderson Maxwell's equity for shares in AZ Next Generation Advisory and a progressive buyback of the shares over the next 10 years. The remaining 51% stake in the financial planning and accounting services firm will be paid to its founding partners in cash over a two-year period.

Henderson Maxwell was established in 2004 and provides financial planning, aged care, superannuation and pensions, life insurance, estate planning, business advice and major life events. The firm is responsible for about A$170 million of client funds and comprises a team of 12 employees.

The acquisition, which is not subject to approval of the local authority, brings Azimut's total AUM in Australia to A$6.4 billion.