Van Eyk sells stake to consortium of industry figures
Van Eyk Researchhas expanded the number of shareholders in the group which will boost the level of external investment in the research house to 32 per cent.
The research houses says it has made the move in advance of a possible listing on theAustralian Stock Exchange(ASX) within 12 to 18 months.
The deal is understood to have been made with a consortium of industry figures who will take a holding of the group, thereby taking the group to a point where it is almost a third externally owned.
Directors Steven van Eyk, Mark Thomas and Rob Prugue will own 63 per cent with staff holding the remaining 5 per cent.
Van Eyk did not detail who is involved in the group to purchase the stake saying that it is too early to do so. The deal is to be finalised in September.
As part of the ownership changes an independent director may join the board prior to listing.
The deal is the second time this year that van Eyk’s ownership has been in the spotlight.
Earlier this yearMercerindicated that it was in negotiations to buy van Eyk outright, however more than two months after the deal was first announced it was called off.
At the time, Steven van Eyk said he called off the deal because he was not comfortable with the time it had taken to negotiate, but remained open to other offers.
AUTHOR
Jason Spits
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
