Count Limited (ASX: CUP), a company focused on building Australia’s leading integrated wealth and accounting platform, has announced a binding agreement to acquire 100% of Oracle Advisory Group, Oracle Accounting (Australia), and Oracle Investment Management (collectively, Oracle Group). The acquisition is aligned with Count’s strategy to grow its employed financial adviser network and expand its participation in the advice market. Oracle Group is a scaled provider of financial advice, accounting and investment management services with 14 offices across NSW, VIC and QLD, generating $26.4 million in revenue and $8.6 million EBITA in FY25.
The acquisition is expected to boost Count’s Wealth segment contribution to approximately 59% of its first-half FY26 pro forma EBITA, up from approximately 46%. Count anticipates low double-digit earnings per share (EPS) accretion pre-synergies on a FY26 pro forma basis. The valuation is an attractive 7.2 times FY26 forecasted EBITA, with potential for synergy and earnings upside through the integration of Count’s investment solutions and services across the Oracle Group’s adviser network. Run-rate pre-tax cost synergies of approximately $1.0 million are targeted within 24 months following completion.
To partially fund the acquisition, Count will undertake a fully underwritten institutional placement to raise approximately $35.9 million, along with a non-underwritten share purchase plan (SPP) targeting up to $5.0 million from eligible shareholders. Certain Count directors have committed to subscribing for approximately $0.3 million of new shares on the same terms as the Placement, subject to shareholder approval. The upfront acquisition enterprise value is approximately $72.2 million, including cash and scrip consideration, and deferred payments dependent on performance milestones.
According to Count CEO Hugh Humphrey, the acquisition of Oracle Group aligns with Count’s strategy to expand its advice value chain participation and grow financial planning revenues. The acquisition is subject to customary conditions precedent, including ACCC approval. E&P Capital Pty Ltd is serving as financial advisor, while E&P and Canaccord Genuity (Australia) Limited are acting as underwriters and joint lead managers for the Placement.
