
- WORLD EDITIONAustraliaNorth AmericaWorld
April 16, 2025
Equity Story Group Ltd (“Equity Story” or “the Company”, ASX:EQS) is pleased to announce that the Company has entered into a binding heads of agreement (HOA) to acquire the business and assets of Adelaide-based full-service financial advisory firm Baker Young Limited (Seller).
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Transaction OverviewPurchase PriceUnder the terms of the Transaction, Equity Story will acquire Baker Young's business and specified assets (including intellectual property and branding) for A$4.2 million, comprising an upfront payment of $3 million (subject to adjustments) and an earn-out
component of $1.2 million, which will be payable subject to the Baker Young business satisfying certain conditions over a 10-month post-completion period. The Company intends to fund the acquisition through debt.In addition, upon completion of the Transaction (Completion), Equity Story will issue 10 million options to the Seller's nominees. The options will be exercisable during a 3-year term at an exercise price of 5 cents each. Half of the options are escrowed for 6 months, with the remaining escrowed for 12 months from the date of Completion.The Company intends to seek shareholder approval under Listing Rule 7.1 for the issue of the full 10 million options. Financial Impact and Outlook
The Transaction is expected to be earnings-accretive and will meaningfully contribute to
the Group's revenue and recurring income. The Transaction is expected to include a
profit-share model for Baker Young advisers and staff, which will serve as a foundation
to attract more advisors as the Equity Story Group expands. The Transaction is
consistent with the Company's strategy of identifying and pursuing selective M&A opportunities that align with its commitment to delivering accessible, high-quality wealth services to retail and high-net-worth investors across Australia.
Click here for the full ASX Release
This article includes content from Equity Story Group Ltd , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EQS:AU
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