Acquisition builds Crewe
Corporate super and financial planning outfit Crewe Consulting has acquired Consolidated Planning in a move to raise its corporate superannuation profile.
Crewe Consulting managing director Geoff Crewe says the purchase of Consolidated Planning ends 18 months of searching and then negotiating with a number of takeover targets.
The corporate superannuation, risk management and financial planning firm’s search had been narrowed down to two groups, one of which was Consolidated.
“We were most seriously looking at Consolidated Planning and an added benefit was we knew the business and its people,” he says.
On top of Crewe’s $100 million already under management, Crewe says the acquisition takes the figure to “well over that amount”. The group will continue to focus on its target market of corporate superannuation funds with 100 to 1000 members.
The new business will also add about seven staff to Crewe Consulting, taking staff numbers to 20 including 10 advisers. Consolidated Planning managing director Michael Smith will take up the position of corporate superannuation and employee benefits director.
Crewe says the group is still hungry for further acquisitions.
“Once we have digested this one, we will be looking at other acquisitions,” Crewe says.
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