Media Release | 16 September 2014

Hall & Wilcox acts for OneVue while McCullough Robertson ‘selected’ to act for specialist multi-asset investment manager in $7 million acquisition

Two leading independent law firms Hall & Wilcox and McCullough Robertson have completed a swift but complex transaction involving the $7 million sale and return of regulatory capital of the Select group: Select Asset Management and Select Investment Partners (SIPL) to OneVue Holdings Limited (ASX: OVH) (OneVue), now one of Australia’s leading responsible entities (RE’s) for multi-asset trusts.

OneVue was represented by Hall & Wilcox’s Sydney and Melbourne offices while the McCullough Robertson Sydney team represented SIPL.

The transaction was completed in less than a week, included more than 30 vendors, and will increase OneVue’s Retail Funds Under Management and Administration from $1.9 billion to $2.6 billion and Total Funds under Supervision from RE and trustee services from $711 million to $1.6 billion.

Adrian Verdnik, Partner, led the Hall & Wilcox team along with Partner Danny Herceg and Senior Associate James Morvell. Mr Verdnik said the Hall & Wilcox team worked closely with OneVue’s Company Secretary, Thomas Robertson and in-house counsel, Steven Fuller, to get the deal done.

“OneVue came to us with a very clear idea of what they wanted”, Mr Verdnik said, “but it still required a lot of goodwill and co-operation between the respective executive teams and their advisers to get the transaction completed within the timeframe”.

“McCullough Robertson, which represented Select in the transaction, did a fantastic job of coordinating all the vendors, some of whom were based overseas, and having them execute all the documents required.”

Lead McCullough Robertson Partner on the transaction Adrian Smith said to complete this type of transaction in such a short period with this number of vendors is a great result for SIPL and a credit to the team.

“SIPL has a track record of more than 12 years managing diversified multi-asset portfolios.  This transaction will enhance the current value propositions for the clients of both businesses,” Mr Smith said.

The transaction is fully funded from existing cash reserves and the issue of OneVue shares.

“The consideration for the Select businesses will be paid $2.7 million in cash and $4.3 million in OneVue scrip.  There is also an incentive component, payable in scrip, for total revenue growth above an agreed threshold in SIPL during the 2015 financial year,” Mr Smith said.

“Shares issued will have an escrow period of up to 12 months.  The cash component will be funded from existing cash holdings.

“McCullough Robertson has been pleased to assist SIPL in its acquisition by OneVue, and the Hall & Wilcox team was a pleasure to work with.  We are confident that this deal will enable OneVue to more effectively deliver a broader range of client solutions.”

Throughout the transaction, the McCullough Robertson team, which included Lawyer Caitlin Filmer working intensively from start to finish, has been aligned in creating the best value for SIPL shareholders and hopes to continue working with the new merged business in the future.

The Select group shareholders were advised by Nelson Lam of Chase Corporate Advisory while OneVue was advised by Mark Hodge of Andover Corporate Finance.


Oliver Jankowsky

Partner & Head of International Practice

Ed Paton

Partner & Head of SE Asia Practice

Eugene Chen

Partner & Head of China Practice

Melanie Smith

Director - Business Development, Marketing and Communications

Natalie Bannister

Partner & Commercial National Practice Leader

Rhett Slocombe

Partner & Insurance National Practice Leader

Katie McKenzie


James Bull

Special Counsel and Head of Frank

Melanie James

People & Culture Manager

Jacqui Barrett

Partner & Head of US Practice

Paul O’Donnell

Consultant & Head of Energy

Christopher Brown

Partner & Head of UK Practice

Lauren Parrant

Senior People & Culture Advisor, as at 1 July 2022

Melinda Woledge

Marketing & Communications Manager

Jasmine Koh

Senior Associate and Head of Frank

Alison Choy Flannigan

Partner & Leader, Health & Community

Billie Kerkez

Manager – Smarter Recovery Solutions

Peter Jones

Senior Commercial Counsel

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