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CountPlus acquires SMSF service provider from Challenger

CountPlus has announced it has acquired an SMSF service provider from investment manager Challenger.

On Wednesday, the listed advice group confirmed it had finalised terms to acquire Accurium at a total purchase consideration of $ 9 million.

CountPlus will hold an 85 per cent shareholding in the provider, with key management personnel of Accurium holding 15 per cent.

Accurium general manager Douglas McBirnie will take on the role of managing director, while it is also anticipated that all current team members will be retained by the business.

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CountPlus will fund the purchase through a combination of cash payment and a bank debt facility with Westpac and will continue to provide transitional services to Accurium for up to 12 months following the completion of the transaction.

The sale and purchase agreement is subject to customary conditions, including due diligence by CountPlus.

The conditions are expected to be finalised by 30 November.

CountPlus acquires SMSF service provider from Challenger
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Neil Griffiths

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.

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