AZ NGA acquires Synchron practice

The transaction marks the 19th Australian acquisition for the Italian-backed M&A outfit since May 2015 and follows the purchase of AFM Advisers’ client book on 2 November.

The deal will see “a share swap of 49 per cent of Dunsford Financial Planning’s equity for AZ NGA shares”, followed by a progressive buy back of these shares over the next decade, with the remaining 51 per cent paid to Dunsford’s founding partners in cash.

Dunsford Financial Planning chief executive Mark Dunsford said the company was “excited about the future” for the firm’s staff and clients.

“We’ve been looking for an equity partnership that would enable us to simultaneously release capital and enable growth of our firm for some time,” he said.

AZ NGA chief executive Paul Barrett said he was pleased with the acquisition and looked forward to working with Dunsford Financial Planning.

“I’ve known Mark for many years and am very pleased to welcome DFP into the AZ NGA family. DFP is a fast-growing practice with a bright future that we are very excited to assist with,” he said.