QUICK FACTS

Client:            Canaccord Genuity Group

Acquisition:  Paterson’s Securities Limited

Type:              M&A

Value:             $25M+

Sector:           Wealth management

ABOUT THE DEAL

In June 2019, Canaccord Genuity Group, a leading Canadian financial services firm, acquired Patersons Securities Limited, a premier Australian financial services business. Gavin played an integral role in orchestrating this transaction from inception to completion, ensuring a smooth and efficient process.

Patersons had earned net revenue of A$61.8 million and net income of A$3.2 million in 2018. The acquisition was aligned with Canaccord’s global strategy, and aimed to significantly enhance Canaccord Genuity’s wealth management operations and provide a substantial platform for expansion in Australia.

Michael Manford, Executive Chairman of Patersons, remarked on the compelling rationale behind the deal, highlighting the additional breadth and depth of services that the combined entity would offer. Clients would benefit from globally integrated wealth management, corporate finance, and equity research capabilities. Both the Patersons and Canaccord Genuity Australia teams valued employee partnership and lasting client relationships, which was foundational to the success of the integration.

The wealth management business of Patersons included more than 100 investment advisors managing C$12.6 billion (A$13.6 billion) in client assets, further strengthening Canaccord Genuity’s presence in Australia.