Count makes 'largest' equity partnership acquisition

ASX-listed Count Group has acquired a majority stake in Skybridge Financial, merely days after snapping up a 30% interest in Brisbane's Apiary Financial.

The binding agreement is set to be Count's "largest equity partnership acquisition to date", as Count implies the 100% enterprise value of Skybridge of $66 million.

Count will initially acquire a 75% interest in Skybridge with a target of around 70% ownership through a sell-down to existing and new employee shareholders in time.

The purchase price for the 75% equity interest, post Skybridge debt, comprises an upfront consideration of approximately $29.6 million, including $25.6 million in upfront cash consideration.

The acquisition will be partially funded via a fully underwritten institutional placement to raise approximately $25 million.

Further, up to $3.3 million conditional deferred consideration is payable following the first 12 months after the completion, subject to Skybridge achieving normalised EBITA of $8.8 million over that period, with any shortfall against target reducing the payment at 7.5x the shortfall, Count said.

Operatively, Count confirmed Skybridge founder and managing director Jason Birch will continue with his responsibility, along with Grant Duddle appointed as managing principal.

Birch, Duddle and employee shareholders will retain a 24% interest post-completion.

The acquisition will add 13 financial advisers, 82 accountants and $1.4 billion in funds under advice (FUA) to Count's network.

Count chief executive Hugh Humphrey said the investment is tightly aligned to its expansion strategy.

"This investment is tightly aligned to Count Group's strategy of growing our participation in the advisory value chain through disciplined investment in quality equity partnerships. It delivers another step-change for Count Group's scale in accounting and financial planning," Humphrey said.

"Following this acquisition, Count Group will have 115 employed financial planners, 490 accountants and $44.4 billion in FUA."

The transaction is expected to complete in the third quarter FY27 and is subject to the satisfaction of various conditions precedent including receipt of ACCC approval.

Skybridge provides financial planning, accounting, taxation, SMSF administration and bookkeeping services across 16 locations in New South Wales, Victoria and Queensland. The firm delivered approximately $29 million of revenue and $8.8 million of normalised EBITA in FY26.