MW Lomax and its international partner Focus acquired a Brisbane-based advisory firm.
MW Lomax, which currently has offices in Sydney and Melbourne, has created "a financial services powerhouse" along Australia's east coast with the acquisition of Westwood Group. It marks MW Lomax's 10th acquisition and its first M&A deal after partnering with Focus.
"This transaction will not only bring synergies in client services, but also facilitate a geographic expansion that will elevate the position of MW Lomax in the growing wealth and financial services market within Australia," said Jon White, group managing director at MW Lomax.
"Focus has been of great assistance throughout the deal process and we are very excited about our alliance with Westwood."
Likewise, Westwood founding director Dominic Cronk said MW Lomax shares the values of putting clients first and offering market-leading services.
"We are excited to join them to leverage each other's resources and build a dynamic Australian brand together," Cronk said.
Cronk and fellow directors Rebecca Stacey, Peter Rowsell, Brendan Alford will continue to serve clients as part of MW Lomax along with the rest of the Westwood team.