Sequoia Financial Group Limited (ASX: SEQ)(Sequoia) is pleased to confirm it has signed a heads of agreement to acquire and merge the businesses of Castle Corporate Pty Ltd and Castle Legal Pty Ltd (Castle). The Castle businesses are prominent and reputable firms specialising in providing accountants, financial advisers and lawyers comprehensive advice and solutions relating to new and existing companies, trusts and self-managed super funds. As such, Castle is a logical and germane fit with Sequoia’s other legal document entities.
The acquisition of the Castle businesses has been procured on an attractive PE multiple and is expected to boost the EBITDA of the Professional Services division by $800,000 per annum. The target completion date of this transaction is 31 July 2023.
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