Pemba / Hewison Private WealthWA-05041

Parties

Summary

Pemba Capital Partners, via Elevate BidCo Pty Ltd, is acquiring 100% of the shares in Melbourne-based wealth management firm Hewison & Associates Pty Ltd. Pemba, a private equity fund manager with over AUD 2 billion in assets under management, is expanding its financial services portfolio through this share sale.

Acquisition details

Elevate BidCo Pty Ltd ( BidCo ) proposes to acquire 100% of the issued shares in Hewison & Associates Pty Ltd ( Hewison ) from Hewison's existing founding shareholders (the Acquisition ). BidCo is a special purpose vehicle and is an indirect wholly owned subsidiary of Elevate HoldCo Pty Ltd ( HoldCo ). HoldCo is currently wholly owned by Pemba Capital Fund III, L.P., a private equity fund managed by Pemba Capital Partners Pty Ltd ( Pemba ), based in Sydney. The Acquisition will be implemented by way of a Share Sale Agreement. Following completion, BidCo will exercise control of Hewison. Pemba is an investor in high-growth and entrepreneurial businesses, with over AUD 2 billion in assets under management. Pemba has interests across various sectors, including business services, education & training, financial services, healthcare, and technology. Relevant to the Acquisition, one of Pemba's portfolio companies is SuperConcepts Pty Ltd ( SuperConcepts ), which provides self-managed super fund administration services and software to participants in the financial advice and accounting industries. Hewison is a Melbourne-based wealth management firm that provides financial advisory, investment strategy and wealth management services to private clients across Australia. Hewison currently provides self-managed super fund administration services to its clients in-house and uses a third-party self-managed super fund software provider for these accounts.