OneVue Holdings Limited (OneVue) will take control of Super Managers Australia Pty Ltd (SMA), expanding the group’s wholesale offering further into superannuation administration.
OneVue will acquire 50 percent of SMA and a 20 percent stake in its parent company Super Managers Holding Company Pty Limited (SMHC). The SMA acquisition includes its subsidiary Super Managers Funds Administration Pty Ltd, a retail superannuation administrator. See below for corporate ownership chart and following page for transaction detail.
“The SMA acquisition is part of OneVue’s objective of further scaling our middle to back office administration capability whether that be via organic growth or by acquisition,” OneVue Group CEO Connie Mckeage said.
“The purchase will complement OneVue’s existing investment administration business. As much as this transaction is intended to create opportunities for new clients, it’s also about strengthening services and increasing capabilities offered to existing clients,” Ms Mckeage added.
This is the second transaction with SMA this year, with OneVue acquiring the self-managed superannuation fund administration business in May. Both the enhanced retail superannuation services and the self- managed superannuation service form part of the OneVue platform services relaunch set for the first half of 2015.