Countplus subsidiary targeting SMSF sector
A Western Australian Countplus subsidiary, McDonald Pynt Lawyers, is planning to expand its service offering into the self-managed superannuation fund (SMSF) area by acquiring legal firm SuperGeneration.
SuperGeneration provides trust deeds to new SMSFs and annual deed updates to approximately 5,000 funds, as well as operating a legal consulting business for SMSF trustees.
The company said the acquisition would allow McDonald Pynt to “expand its service offering to the booming SMSF area and superannuation consulting”.
SuperGeneration would continue to be managed by its founder Chris Hogan, who specialises in superannuation law.
Consideration was satisfied through $579,600 cash paid over two years and the issue of 533,600 Countplus shares at $1.50 per share.
AUTHOR
Milana Pokrajac
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