Barrett’s AZ NGA undertakes acquires another group
The Paul Barrett-led Italian-backed AZ Next Generation Advisory has made another acquisition – this time bringing Wealthmed Australia under its umbrella.
The company announced it had signed a binding sale and purchase agreement to acquire the entire capital of Wealthmed Australia with the transaction entailing a share swap of 49 per cent of Wealthmed’s equity for AZ NGA shares and a progressive buy back of these shares over the next ten years.
The announcement said the remaining 51 per cent stake would be paid to the founding partners in cash.
Commenting on the transaction, AZ NGA chief executive, Paul Barrett said Wealthmed represented an exciting growth opportunity for AZ NGA as it looked to expand its investment program to firms with a strong growth appetite.
The announcement described Wealthmed is a highly targeted and integrated financial planning, real estate, and accounting services business, specialising in wealth management for doctors and other medical specialists.
It said Wealthmed offered a full suite of advisory services including property advocacy, wealth accumulation, retirement planning, insurance, and strategic financial planning advice.
Wealthmed is led by principals Carolyn Bindon, Scott Guildford and Albert Borzillo.
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