Australia-based Easton Investments has agreed to acquire a 25% equity interest in First Financial, a wealth management and financial services firm based in Melbourne, for $2.376m.
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The acquisition is consistent with Easton’s position regarding minority interests and will be funded through the firm’s current surplus cash reserves.
The two entities have also agreed to ink a shareholders’ agreement, which will include a put and call option to enable an orderly exit where the parties deem this to be in their respective best interests.
First Financial comprises nearly $1.15bn in funds under advice and administers over 500 funds. The firm provides planning, investment advice, broking, risk services as well as SMSF administration.
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