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McMillan Shakespeare Announces to Acquire JV Partner's 25% Interest in Plan Partners

29 Jun 2020  |  08:39:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Plan Partners

McMillan Shakespeare advised that it has reached agreement to acquire JV partner's 25% interest in Plan Partners for $8m. The transaction will be funded from existing cash reserves and is expected to complete on or around 30 June 2020. Once completed, the Company will wholly own Plan Partners. Plan Partners is a nationally registered provider of plan management and support coordination services to its customers who are participants in the National Disability Insurance Scheme. Client funds administered by Plan Partners has increased by 50% since 31 December 2019.

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