Azimut’s AZ NGA acquires Dunsford Financial Planning in Australia

AZ Next Generation Advisory (AZ NGA), the Australian subsidiary of Italian group Azimut, has signed an agreement for the full acquisition of Dunsford Financial Planning (DFP), based on the Mornington Peninsula, Victoria.

The agreement includes a share swap of 49% of Dunsford Financial Planning’s equity for AZ NGA shares and a progressive buy back of these shares over the next ten years. The remaining 51% stake will be paid to the founding partners in cash over a period of two years.

The total value of the transaction considering both the cash and share swap entails a purchase price of around A$6.1mn (equivalent to €4.1mn).

Dunsford Financial Planning operates under the Australian Financial Services License regime overseen by ASIC; the acquisition is not subject to the approval of the local authority.

Since May 2015, AZ NGA has carried out several acquisitions aimed at expanding its business including that of Menico Tuck Parrish Financial Services (MTP) in May and the acquisition of Farrow Hughes Mulcahy (FHM) in  August.

Currently the Azimut Group, through AZ NGA, manages A$6.2bn (€4.1bn) total asset in Australia.

Ridhima Sharma
Ridhima Sharma is Correspondent for InternationaInvestment. She speaks German and is also DACH Correspondent for InvestmentEurope. She has more than 8 years of experience in the media industry. Before joining us, she was working in India and covering automotive and lifestyle sectors. Over the years many of her stories have been published in various magazines across India.

Read more from Ridhima Sharma

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