Heather David

Managed Accounts Holdings Limited (ASX: MGP) has completed its acquisition of Linear Financial Holdings Pty Ltd (Linear) following the successful raising of $34 million from high quality institutional and sophisticated investors, most new to MGP’s share register.

MGP Executive Chairman, Don Sharp said, “The MGP and Linear teams, with the strong support of Sirius Capital Partners, Shaw and Partners, Evans and Partners and Veritas, have done an exceptional job to bring this merger to fruition. We now look forward to working together to create a business we and our clients can be proud of.”

The merged entity becomes a leading provider of non-unitised administration solutions to the IFA, broking and institutional segments, private wealth managers and investment managers that are variously restructuring to offer clients greater transparency through non-unitised structures.

Integration of the businesses will commence immediately under the leadership of MGP Chief Executive David Heather who said the transaction completion was an endorsement of the major growth potential of the combined entity.

“The administration segment that supports wealth management is becoming increasingly complex. Our market leading capability to deliver non-unitised multi asset, multi-currency solutions across flexible legal structures and custodians enables is us to meet this growing complexity. We look forward to integrating the businesses, working with existing clients to maximise use of our capability and meeting the needs of new clients,” Mr Heather said.

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