Countplus closer to fruition
Countplus, the brainchild of Count Financial, has finalised the terms of its offer to acquire interests in other financial services businesses and is set to begin marketing tomorrow.
The companies that Countplus eventually decides to purchase will be licensed via Count and will consist mainly of financial planning and accounting firms.
The emphasis will be on quality businesses with a successful growth history, continuing prospects and an ongoing management team.
The acquisition target of Countplus is a maximum of $25 million (combined earnings before interest and tax), to be achieved over three to five years starting in 2007.
Countplus’ vision is to provide member firms with a more independent aggregation model, although there will be no requirement to re-brand with the day-to-day management and strategic direction remaining at the principal’s discretion.
Under the terms of the offer, both Count franchisees and non-Count businesses will be considered for acquisition, which will be structured via a two-stage buyout with an initial acquisition of 25-49 per cent.
From those businesses that are subject to only partial acquisition, Countplus will have the right to purchase the remaining interests within five years.
According to Count, the benefits for vendors of selling to Countplus include an ongoing succession plan, risk diversification, loan repayment ability and future growth.
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