MEDIA RELEASE

Azimut-backed professional services utility, AZ Next Generation Advisory (AZ NGA) has acquired a minority economic interest in Cranage Financial Group, the selflicensed Melbourne-based financial advisory firm founded by former Collingwood Football Club defender Paul Cranage.

Established in 1984, Cranage Financial Group specialises in financial planning, property advice and mortgage broking.

It has $300 million in funds under management, $2 million in annual inforce life insurance premiums and six financial advisers including Paul Cranage and three of his four children, Ben, Sam and Laura.

The deal is multi-faceted, and includes a cash component and capital funding for growth and future acquisitions. The capital is expected to be used immediately to add scale and capacity to the group.

According to Paul Barrett, AZ NGA Chief Executive Officer, the transaction highlights the capability and capacity of AZ NGA to structure deals to meet a business’ immediate and longer term needs and objectives, be they, succession planning, capital for growth, and/or banking and debt solutions.

AZ NGA’s strategic partnership with Cranage Financial Group will also see it provide Board, governance and management support.

“The team at Cranage, led by Ben, Sam and Laura, are passionate about delivering high quality advice, serving the needs of their clients, and continuing to build a strong business,” Mr Barrett said.

“This is a dynamic business with a clear vision and ambitious goals for the future, and a keen desire to partner with an experienced business and capital partner to help them get there.”

Cranage Financial Group Director and Private Wealth Adviser Ben Cranage said: “Over the past four years, Cranage Financial Group has grown considerably, due largely to our holistic advice model, and we are committed to expanding our client value proposition and continuing to grow.”

“Partnering with AZ NGA gives us access to the group’s resources, capability and capital, and the opportunity to glean the best ideas and insights of AZ NGA’s collaborative community of successful, like-minded entrepreneurs.”

Since 2015, AZ NGA has completed 90 transactions.

The group’s three-tiered strategy is focused on acquiring capability and capacity; maximising efficiencies through the delivery of shared services; and partnering with firms to drive organic growth.

For more information, please contact:

 Paul Barrett

 Chief Executive Officer, AZ NGA

 M: 0419 402 319 

E: paul.barrett@aznga.com