Powerwrap has been acquired via an off-market takeover by Praemium
Powerwrap Limited (ASX:PWL) has been acquired via an off-market takeover by Praemium Limited (ASX:PPS). The merger will create one of Australia’s largest independent specialist platform providers, with combined funds under administration of over US$20 billion. The transaction provides Powerwrap’s shareholders with greater liquidity and marketability through exposure to a company with a target market capitalization and benefits from a valuation re-rate.
Powerwrap is one of Australia’s leading wealth management platforms, offering a comprehensive suite of investment, administration and shared services to high-net-worth investors.
Praemium is a global leader in the provision of integrated managed accounts platform technology, investments and financial planning solutions.
Oaklins’ team in Australia acted as the sell-side advisor to Powerwrap, supporting the board through the entire sale process, from the initial strategic review and takeover defense, through to the board reaching unanimous support for Praemium’s offer and full divestment.
Anthony Wamsteker
Chairman, Powerwrap Limited
Talk to the deal team
Related deals
Manolete Partners plc has completed a successful debt refinancing
Manolete Partners plc has signed a new revolving credit facility (RCF) with its existing provider, HSBC. The new RCF provides Manolete with the same level of facility as the previous arrangement, at US$22.6 million (£17.5 million), but with a reduced margin and lower non-utilization fee. The facility has a term of 3.25 years, with the option to extend for an additional year on the same terms.
Learn moreGenerali has expanded its footprint in Bulgaria by acquiring one of the top health insurers on the market
Doverie United Holding has successfully completed the sale of United Health Insurance Fund Doverie (Doverie) to Generali CEE Holding.
Learn moreCaja 18 has successfully completed a US$42 million corporate bond placement
Caja 18 has completed a placement of US$42 million (1,100,000UF) in corporate bonds on the local capital market. The bonds, with a seven-year term, semi-annual amortizations and a duration of 3.87 years, were secured by social credit guarantees. The proceeds will be used to finance Caja 18’s social credit program and refinance previously contracted liabilities for the same purpose. As part of this refinancing plan, Caja 18 also completed the voluntary early repurchase of its Series A bonds.
Learn more