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A firm which has won multiple Australian Accounting Awards has been wholly acquired by a foreign-backed M&A outfit.
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Accounting firm acquired by foreign-backed network
12 December 2017
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AZ Next Generation Advisory (AZNGA), a company led by former ANZ and CBA executive Paul Barrett and commercially backed by Italian fund manager Azimut, has made its 42nd acquisition since entering the Australian market in 2015, with a successful bid for Henderson Maxwell.
Henderson Maxwell and its partners Sam Henderson and Rocco Musumeci have won several Australian Accounting Awards.
Under the terms of the deal, the two organisations will enter into a share swap, with 49 per cent of Henderson Maxwell shares transferred for AZNGA shares and a progressive buyback.
AZNGA will pay out the remaining 51 per cent stake to the firm's founders.
The self-licensed firm was founded by Sam Henderson, a prominent financial adviser and Sky News Business host, in 2004 and has $170 million in funds under advice.
"This is an exciting new chapter for our business," Mr Henderson said. "We are looking forward to being part of a broader network that will enable further growth and innovation."
AZNGA acquired Sydney-based chartered accounting firm Hurwitz Geller in October
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