Countplus acquires 25 per cent of accounting and financial planning firm
Count Financial subsidiary Countplus has acquired a 25 per cent share of accounting and financial planning firm Evolution Advisers for more than $585,000.
The acquisition involved a cash transaction of $234,234 and $351,352 in shares at a 12.5 per cent discount.
Countplus can buy the remaining 75 per cent of the business from July 2010.
The business is chaired by its founder, Warren Hodgson. There are four principals in the business. Evolution has revenue of $3.52 million per annum, with $40 million in funds under advice.
The acquisition will provide a good starting base for growth and accessing further incentives, Countplus chief executive Jeremy Wardell said.
AUTHOR
Benjamin Levy
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