Firms: Laity Morrow (Bendzulla); Arnold Bloch Leibler (Challenger)
Deal: Acquisition of Bendzulla Actuarial by Challenger
Value: $25 million
Key Players: Kerry Morrow (pictured) from Adelaide’s Laity Morrow led her firm’s team, while Sydney-based partner Andrew Silberberg led ABL’s team
Deal Significance: Bendzulla is the leading provider of SMSF actuarial certificates in Australia, with a market share of more than 50 per cent serviced through relationships with approximately 5500 accounting firms. Challenger has advised the market that the purchase of Bendzulla Actuarial was a strategic investment in terms of SMSF retiree research, product and service development and distribution.
Bendzulla will remain based in Hobart.
This week Challenger announced that net profit after tax was up 10 per cent to $164 million.