Forming a partnership with greater scale and a stronger market position

Deal Flash

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 (FUA) of over US$20 billion.

Powerwrap is one of Australia’s major wealth management platforms, offering a comprehensive suite of investment, administration and shared services to high-net-worth investors.

The Powerwrap board engaged the Oaklins team after receiving a takeover approach. We were pleased with the team and their advice on the potential transaction. They understood the opportunity and how to get the transaction done in a way that created value for all involved. Thank you for your judgement, commerciality and pragmatic approach, which helped achieve a great outcome. ANTHONY WAMSTEKER, CHAIRMAN, POWERWRAP LIMITED, AUSTRALIA

Oaklins found the best partner to expand the business

Oaklins’ team in Australia acted as the sell-side advisor to Powerwrap, supporting its board throughout the sale process, including initial strategic review and takeover defence, through to the board giving unanimous recommendation for Praemium’s offer and full divestment.