SYDNEY, AUSTRALIA: Teaminvest Private Group Ltd (ASX: TIP) has agreed to acquire 100% of the shares in:
(a) Enva Australia Pty Ltd and Enva Holdings Pty Limited (together, Enva) from its founder and staff.
Enva is a boutique financial advisory business headquartered in Adelaide with approximately $400 million of funds under advice (FUA).
The consideration payable by Teaminvest Private Group under the proposed transaction is conditional, payable on a deferred basis and will be paid via an issue of new fully paid ordinary shares in the company. A maximum of $2,500,000 in Consideration Shares can be issued, with the final number linked to performance.
Enva’s services are complimentary to the existing offering of TIP Wealth, and ‘rounds-out’ the Wealth platform.
In addition to completing our Wealth offering, Enva also provides:
- Strategic benefits in being able to provide Advice to Product clients
- Access to experienced staff with excess capacity, whose costs are already covered by existing Enva revenues
- High quality licensing and compliance framework which offers cost savings on our existing trustee and fund products
- Access to a pool of clients and capital for our fund and education products (via direct marketing)
- Access to corporate advisory mandates via Enva client base
TIP Group is an ASX-listed financial institution focussed on transferring knowledge and wealth between generations.