Azimut Group Subsidiary To Acquire Australian Wealth Manager

Robbie Lawther

13 December 2017

Australia-based financial advisor .

The agreement includes a share swap of 49 per cent of HM’s equity for AZ NGA shares and a progressive buy back of these shares over the next 10 years. The remaining 51 per cent stake will be paid to the founding partners in cash over a period of two years, the firm said in a statement.

The total value of the transaction considering both the cash and share swap entails a purchase price of around A$11.6 million ($8.8 million).

HM was established in 2004 and is based in Sydney, New South Wales. It is a fully integrated financial planning and accounting services firm. HM is responsible for approximately A$170 million of client funds, and comprises a team of 12, including seven financial planners.

The wealth manager operates under the Australian Financial Services License regime overseen by the Australian Securities and Investments Commission. The acquisition is not subject to the approval of the local authority.

“Henderson Maxwell is another solid firm who took the decision to share its growth and succession plan with AZ NGA and the Azimut Group,” said Sergio Albarelli, chief executive of Azimut Holding. “We have had an incredible run during 2017 and we believe we will be able to continue to exploit the opportunities offered by the Australian financial practices market for many years to come. Since the start of our operations AZ NGA has completed 20 transactions, without counting the several book-buys completed by financial practices already part of our family.”