Financial Index Wealth Accountants is set to acquire Crowe Horwath Australia, following the group’s acquisition of Centric Wealth.
The two companies announced they had entered into an agreement in a statement to the ASX, in which it was revealed that Findex will acquire all of the shares in Crowe Horwath by way of a scheme of arrangement.
“Findex has long had a strategy of growth through acquisition. Our highest profile transaction is that of Centric Wealth,” said Findex chief executive Sprio Paule in a separate statement.
“This transaction only occurred after much due diligence and consideration from our experienced mergers and acquisition team. The purchase of Centric Wealth was the right step for the business, our staff and clients and will see the brand maintain its privately-owned and non-aligned status," said Mr Paule.
“We look for businesses with the right strategic and cultural fit for our group. Any future acquisitions will follow this same course. We are undertaking due diligence with Crowe Howarth and have exclusivity until 30 July.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 14 Dec 2018ASIC clarifies RG 146 requirements for advisersBy Adrian Flores
- 14 Dec 2018Sargon Capital acquires listed robo adviserBy James Mitchell
- 14 Dec 2018Industry body flags CPD burden under FASEA proposalBy Adrian Flores
- 14 Dec 2018Adviser exodus creating ‘enormous opportunity’ for accountantsBy Jotham Lian
- 14 Dec 2018Advisers embracing ESG investing, says surveyBy Adrian Flores
- 13 Dec 2018AFA picks apart CPD policy from FASEABy Adrian Flores
- view all