Hall & Wilcox advises Aon on the sale of its smartMonday superannuation business

 

Media Release | 1 February 2022

Hall & Wilcox has advised Aon on the sale of Aon Solutions Australia Limited, the operator of the ‘smartMonday’ superannuation business, to Future Superannuation Group.

Aon Solutions owns the smartMonday brand and is the sponsor, master administrator and intra-fund advice partner of smartMonday, which accounts for approximately $5.3 billion in superannuation funds. The transaction completed on 31 January 2022.

Hall & Wilcox advised on all Australian law aspects of the transaction. The Hall & Wilcox team was led by Partner Chris Brown, who was supported by lawyers Liam Closey and Bridget Clarebrough. Financial Services Partner Adrian Verdnik provided specialist superannuation advice to Aon, and Employment & Workplace Relations Partner Aaron Dearden supported Aon on employment law aspects.

Speaking about the transaction, Chris Brown said:

‘We were delighted to be able to work with Aon again (following our involvement in the divestment of its financial advice business in 2019). It was pleasing to be involved in a transaction that will allow the ‘smartMonday’ business to continue to build scale.

‘We were able to deploy specialist capability from across Hall & Wilcox to advise Aon (including in the area of superannuation law). In recent years, we have developed significant expertise and track-record in transactions involving superannuation funds (whether at the fund, trustee or sponsor level (as was the case here)). The industry trend towards consolidation of funds and licensees is very likely to continue.’

Aon received corporate and transaction advice from Allier Capital (Sidney Chan, Martin Chau and Bianca Shah).

Hall & Wilcox is a leading independent Australian law firm of around 900 people including over 100 partners, delivering outstanding legal services to corporate, public sector and private clients, both Australia-based and those offshore doing business in Australia. The Hall & Wilcox Mergers & Acquisitions team is widely recognised, including being listed in The Legal 500 with a number of the M&A practice partners ‘recommended’ and listed in the other leading law firm directories.

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