Azimut Completes Partnership with Oaktree for Australian Expansion
Deal News | Dec 16, 2024 | Finance Community IT - 1 Corporate M&A
Azimut Holding and its Australian subsidiary, AZ Next Generation Advisory (AZ NGA), have finalized a strategic partnership with Oaktree Capital Management, as first announced on September 30, 2024. In this transaction, Oaktree has invested AUD 240 million to acquire a stake in AZ NGA's financial advisory and accounting network, valuing the company at AUD 690 million. Azimut retains a long-term strategic interest of at least 25% in AZ NGA. This partnership aims to enhance mergers and acquisitions activities, stimulate organic growth, and strengthen AZ NGA's leadership in the Australian financial advisory sector. Paul Barrett, CEO of AZ NGA, expressed an ambitious goal to triple the company's size in the next three to five years through M&A and organic growth, supported by Oaktree's capital. Over the next 12 months, AZ NGA intends to concentrate on critical transformation initiatives and promoting excellence across all business areas. Byron Beath, managing director of Oaktree, recognized the remarkable leadership of AZ NGA's team under Paul Barrett’s guidance, noting the company’s effective model for growing client businesses while managing succession.
Sectors
- Financial Services
- Private Equity
Geography
- Australia – The article discusses the expansion and strategic developments in the Australian financial advisory sector, centered around AZ Next Generation Advisory.
- Italy – Azimut Holding, the parent company involved in the strategic partnership, is headquartered in Italy.
- United States – Oaktree Capital Management, the private equity firm investing in the Australian company, is based in the United States.
Industry
- Financial Services – The article focuses on strategic partnerships to enhance financial advisory and accounting services in Australia, making Financial Services a relevant classification.
- Private Equity – Oaktree Capital Management, a leading private equity firm, is involved in the investment, emphasizing the relevance of the Private Equity industry.
Financials
- AUD 690 million – Valuation of AZ Next Generation Advisory in the transaction.
- AUD 240 million – Investment made by Oaktree Capital Management for acquiring a stake in AZ NGA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Azimut Holding | Investor, Parent Company | Company | An Italian asset management company engaged in a strategic partnership for expansion in Australia. |
| AZ Next Generation Advisory (AZ NGA) | Target Company | Company | Azimut's Australian subsidiary focusing on financial advisory services. |
| Oaktree Capital Management L.P. | Investor, Private Equity Firm | Company | A global investment management firm providing capital to AZ NGA for expansion. |
| Massimo Guiati | CEO of Azimut Holding | Person | Leader involved in forging the partnership with Oaktree. |
| Paul Barrett | CEO of AZ NGA | Person | Oversees the growth and strategic plans for AZ NGA. |
| Byron Beath | Managing Director of Oaktree | Person | Represents Oaktree in the strategic partnership with AZ NGA. |