WT Financial takes Millennium 3
WT Financial Group has moved to acquire Millennium 3 from Insignia Financial.
The company announced the move on the Australian Securities Exchange (ASX) today saying it would pay $2.01 million on a debt free, cash free basis, with the final purchase price adjusted at completion to reflect an retained working capital.
The announcement said the acquisition was highly synergistic and accretive to earnings and that once fully integration WT Financial expected it to contribute more than $50 million of revenue,
It said Millennium 3 had more than 140 wealth and personal risk advisers.