KKR sells Findex stake to Mercury Capital

Major private equity player KKR has sold its 40% stake in Findex to Mercury Capital.

Findex announced the Mercury Capital investment today saying the arrangement would see Mercury Capital taking the KKR 40% stake providing additional capital as well as the appointment of new representatives to the Findex Board.

Mercury Capital chief executive, Clark Parkins said the firm had been attracted to Finex’s competitive position in both wealth management and accounting services and its regional foothold outside of metropolitan areas.

“Findex’s strong growth profile, management capabilities, deep digital investment and low-risk salaried adviser model which brings Accountants and Financial Planners together under one roof creates an exciting opportunity for enhanced, market-leading service provision,” he said. “It positions Findex to continue to significantly expand its business across Australia and New Zealand.”

Findex founder and managing director, Spiro Paule said the new relationship with Mercury Capital demonstrated that Findex is comfortable with and adept at partnering with smart capital.