AZ NGA will ‘ramp up’ M&A activity as Oaktree deal finalised

AZ Next Generation Advisory (AZ NGA) has flagged a period of ‘ramped up’ merger and acquisition (M&A) activity at the same time as its $240 million deal with Oaktree Capital Management has been finalised.

First announced at the end of September, the transaction sees Oaktree become AZ NGA’s largest shareholder, as business owner, Azimut, retains a strategic stake.

A statement from AZ NGA confirmed that the deal would pave the way to “accelerate M&A activity, drive organic growth and cement AZ
NGA’s position as Australia’s finest professional services company”.

“We are extremely privileged and excited to work with a world class strategic investor like Oaktree,” Paul Barrett, AZ NGA Chief Executive
Officer, said.

“We have ambitious goals to triple in size over the 3-5 years, through a combination of M&A and organic growth, and our strategic partnership with Oaktree gives us the capital to fund our short-to-medium term plans and continue enhancing our proposition to accounting and advice businesses.

“In the next 12 months, our focus is on accelerating our Super firm program, ramping up M&A activity, key transformation initiatives and
continuing to elevate to a high-performance culture.”

Byron Beath, Oaktree Managing Director, echoed Barrett’s sentiments and praised his “exceptional leadership” as the driving force behind the transaction.

“AZ NGA has successfully enabled business owners and their clients to simultaneously grow their practices while effectively managing ownership succession, which is critical for the natural evolution of quality businesses,” he said.

“By providing additional capital through this transaction, AZ NGA will further enhance their ability to execute on their plan of organic and
inorganic growth, empowering their talented staff to be the national leader of providing financial advice and services.”

Massimo Guiati, Azimut Holding Chief Executive Officer and AZ NGA Chairman, reaffirmed the company’s long-term commitment to “working with Oaktree to drive the growth and success of AZ NGA”.