M&A support for planning practices
Paragem Partners and Miles Corporate have formed a new partnership to provider financial planning and accountancy firms with merger and acquisition assistance.
Paragem Partners, which was established in 2004 by former Sealcorp, now Asgard, chief executive Ian Knox, currently provides support services to Australian Financial Services Licensees that aim to build scale while remaining independent. Miles Corporate is a specialist in the buying and selling of small to medium enterprises.
Knox said: “The package has the hallmarks of flexibility and being easy to deal with because both firms have a history of understanding buy/sell strategies in financial planning and accounting practices.”
He added that there are a number of firms examining successor or sell strategies that wish to seek some professional advice before announcing the sale.
Knox added: “Paragem and Miles Corporate ownership is independent of institutions and we both have a significant book of clients looking to expand through acquisition.
“By offering this service with Miles Corporate we are able to effectively provide a low cost investment banking service to the small to medium enterprise segment.”
The new venture currently has six clients, and they are working with these firms to find exit strategies and retirement options for the principals.
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