Count to acquire majority interest in Skybridge
Key points
- Count to acquire 75% interest in Skybridge
- Transaction expected to be mid to high single-digit EPS accretive pre-synergies
- Acquisition to be partially funded via a $25.0 million placement
Full summary
Count Limited (ASX:CUP) has announced its intention to acquire a 75% interest in Skybridge Financial, a significant step in its strategy to build Australia's leading integrated wealth and accounting platform. The acquisition, expected to close in Q3 FY2027, will see Count Group gain access to Skybridge's 82 accountants, 13 financial advisers, and $1.4 billion in Funds Under Advice (FUA). The acquisition is anticipated to be mid to high single-digit EPS accretive on a FY2027F pro forma basis. The transaction will be partially funded by a fully underwritten institutional placement to raise approximately $25.0 million, with the balance funded from existing cash reserves, debt facilities, and scrip issuance.
Guidance
Mid to high single-digit EPS accretion expected in FY2027F
Outlook
Count Group expects the acquisition to provide strategic benefits, including scaled equity partnership, regional scale, and additional FUA synergies.
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