NEW YORK, NY / ACCESSWIRE / October 24, 2023 / Focus Financial Partners Inc. ("Focus"), a leading partnership of fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Omega Financial Solutions Pty Ltd and Omega Accounting Solutions Pty Ltd (collectively, "Omega"), an integrated financial services firm based in Sydney, will join partner firm MEDIQ Financial Services("MEDIQ"), headquartered in Melbourne. The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions.
Omega was founded by Max Moodley in 2004. Omega aims to be a one-stop shop for medical professionals by providing tax, mortgage and insurance offerings in addition to its traditional accounting services. Joining MEDIQ will provide Max with a succession plan for his clients and his team, and allow Omega to capitalize on the talent, broader resources and infrastructure available through MEDIQ. For MEDIQ, this transaction represents an opportunity to further establish its presence as a leader in the niche medical professional financial services space in Australia, and further expand in the attractive Sydney market. Ultimately, MEDIQ's intention is to develop the scale and presence to be considered one of the "go-to" firms for medical specialists across all the major Australian cities.
"After developing a deep relationship with the MEDIQ team over many months, I am convinced this is the relationship that will help us enhance the service offerings available to our clients," said Max Moodley. "Having the support of a bigger team with deep industry and technological expertise will help us provide more value to our clients, while simultaneously maintaining the entrepreneurial flair and medical professional focus that has shaped our business."
"We have known the Omega team for a while now, and with each conversation we have grown more convinced that this is the right fit for MEDIQ, both culturally and strategically," said Ravi Agarwal, Founder and Managing Partner of MEDIQ. "This addition will further strengthen MEDIQ's ability to serve our primary constituency of medical professionals, while also helping build upon our existing presence in the Sydney market."
"We are proud to support our partners at MEDIQ, and are delighted that the Omega team will be joining them," said Travis Danysh, Head of Mergers and Acquisitions for Focus. "This transaction will strengthen MEDIQ's ability to serve clients and build upon its Sydney presence as the firm continues to grow. It is a highly synergistic combination, and once again illustrates our ability to bring our extensive M&A expertise to our partners and help them grow and expand their businesses."
About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational autonomy, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit focusfinancialpartners.com.
About MEDIQ Financial Services
Founded in 2010, MEDIQ Financial Services ("MEDIQ") offers integrated wealth management and medical practice strategy services exclusively to medical professionals and their families. MEDIQ's comprehensive service offering includes accounting and taxation, financial planning, investment management, legal services, insurance, lending, and medical practice advisory. MEDIQ's highly qualified team of specialists works with clients through a collaborative approach to address clients' needs holistically and comprehensively. For more information about MEDIQ, please visit www.mediqfinancial.com.au.
Media Contact
Travis Danysh
Managing Director, Head of Mergers and Acquisitions
Focus Financial Partners
P: +1-646-518-1342
[email protected]
SOURCE: Focus Financial Partners Inc.