AZNGA acquires Henderson Maxwell
Italian fund manager-backed M&A outfit AZ Next Generation Advisory (AZNGA) has made its 42nd acquisition since entering the Australian market in 2015, with a successful bid for Henderson Maxwell.
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 advice and accounting firm was founded by prominent adviser and Sky News Business host Sam Henderson in 2004. It has $170 million in funds under advice and was named AFA Practice of the Year in 2016.
"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 Melbourne-based Synchron firm Dunsford Financial Planning in November and Sydney-based firm Hurwitz Geller in October.
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