AZNGA, the M&A outfit backed by Italian fund manager Azimut, has acquired boutique wealth management and accounting firm Henderson Maxwell in its 42nd Australian deal.
AZNGA chief executive Paul Barrett, a former head of distribution at ANZ and CBA, has announced he will acquire the firm, which was founded by prominent wealth manager and Sky News Business host Sam Henderson in 2004.
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 firm 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."
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