Future planning specialist firm Succession Plus and business solutions provider LightYear Group have entered into a joint venture arrangement that will provide services such as organisational succession, exit strategising and corporate finance support, including merger and acquisition assistance and capital-raising activities.
The partnership will target LightYear Group members and their clients nationwide. Further, it includes a strategic investment by member firms of the LightYear Group network in Capitaliz, a digital platform for succession advisory.
Capitaliz has operated in the United States exit planning market for three years, where it currently derives more than 75 per cent of its income. The deal will launch Australian sales of Capitaliz via the LightYear Group ecosystem.
The platform enables advisers to deliver data-driven succession planning using a structured methodology. Features include dynamic valuations, benchmarking and automated reporting.
Succession Plus managing director and Capitaliz founder Dr Craig West noted the partnership aims to assist business owners in growing value.
“This partnership accelerates our shared mission: help business owners grow value and exit on their terms,” West explained.
He indicated combining LightYear Group’s national footprint with the Capitaliz platform would make succession planning accessible at scale.
The launch of the Australian operation will see LightYear Group chief executive Michael Jeffriess also take on the role of Capitaliz finance director. His new position will see him lead financial governance and support the strategy to enter the Australian market.
“This joint venture gives our members turnkey growth engine, productised advisory, enablement and technology, so they can deepen client relationships, add new revenue streams and deliver measurable value,” Jeffriess suggested.
“Succession and exit advice are a key area of advice for business owners in Australia and we are delighted to be able to partner with Succession Plus and Capitaliz.”
A national enablement program for members is scheduled to begin in February. This will include workshops and webinars covering delivery workflows and Capitaliz implementation.
