Logiro Unchartered, a subsidiary of AZ Next Generation Advisory (AZ NGA), has agreed to acquire Queensland-based advice firm Aspire.
Based in Aspley, Aspire has offices on the Gold Coast and Sunshine Coast. It offers services to more than 500 customers and manages over $110m in assets under advice.
The company provides a range of services, including superannuation, retirement planning, investments, self managed superannuation funds, centrelink planning, aged care planning, gearing, succession planning, risk planning and estate planning.
The transaction is expected to nearly double the size of Logiro. Terms of the deal were not disclosed.
Commenting on the acquisition, Logiro CEO Chris Shiels said: “In 2016 we wanted to achieve two key growth objectives. The first was to partner with a new shareholder who could provide access to capital and know-how, the second was to complete a large acquisition. We are delighted to have achieved both of these objectives.”
AZ NGA CEO Paul Barrett said: “It was clear to me that we could help Logiro to grow. We were aware that Logiro wanted to make a large acquisition and were delighted to be able to introduce them to Glenn and to enable the transaction to happen.”
In August 2016, AZ NGA acquired Logiro in an A$4.3m deal ($3.2m).