SYDNEY, AUSTRALIA: Finexia Financial Group has entered into a business purchase agreement to acquire the equities stockbroking and trading team from Everblu Capital.
The acquisition is very complementary to the company’s existing Sydney based braking (securities dealing) business, bringing with it operational cost savings, increased scale in terms of revenue and active clients, along with a highly experienced team of brokers with decades of experience in investment markets.
The Everblu Capital team of brokers will operate under the Finexia brand and be integrated into Finexia’s existing business.
They bring with them an extensive client base, providing Finexia with additional channels to offer its existing services and products, specifically Private Credit opportunities including managed funds.
Mr Patrick Bell, CEO of Finexia commenting on the transaction said,” The Everblu acquisition offers several accretive benefits to our business whilst remaining aligned with our overall core strategy of Private Credit and Funds Management. It further widens our Sydney presence and is in step with our legacy equities capability.”
Everblu Capital Corporate Pty Ltd, the Corporate Advisory arm of Everblu Capital Pty Ltd is not being purchased, it will continue to operate completely separate.
Finexia will have exclusive access to deal flow originated through Everblu Capital Corporate Pty Ltd, which has been involved in over $1 billion worth of transactions.
The consideration being paid for the purchase comprises a mix of cash and Finexia (FNX) shares with milestone (progress payments hinged on agreed financial performance targets.
The total potential consideration is $1.1 million, of which $600,000 is being paid upfront.
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