CountPlus member firm CountPlus One has snapped up the financial planning services of Sydney-based Centenary Financial.
Both the parties involved are Count Financial member firms.
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The deal, termed as a tuck-in acquisition, is said to enhance CountPlus One’s financial planning suite.
The deal consideration of $200,000 will be paid in cash.
Of the total consideration, CountPlus will pay 60% of the money upfront at closing. It will pay the remainder in two tranches.
CountPlus expects the deal to add to its earnings in the first year.
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By GlobalDataCountPlus One managing principal Ian George said: “Our due diligence revealed Centenary has a quality client base, which will bolster the financial planning practice offering of CountPlus One.”
As part of the deal, CountPlus One will absorb the key employees and clients of the acquired entity.
CountPlus CEO Matthew Rowe said: “The CountPlus model works on identifying and investing in quality people and businesses, and this acquisition by CountPlus One reflects that model and the opportunities coming from Count Financial.”
Last month, Affinitas Financial Planning joined Count Financial as its newest corporate authorised representative.
A unit of the Affinitas group, Affinitas Financial Planning focuses on offering accounting, tax, finance, investment as well as personal insurance advice services.
