Is an approach from AZ NGA an offer?

No. An approach is an expression of interest, not an offer — it commits you to nothing. Offers come much later, usually in writing as an indicative offer or term sheet, and only after both sides have chosen to engage.

Do I have to reply straight away?

No. There is no clock on your side of the conversation. A considered reply a week later reads better than a rushed one the same afternoon, and a genuine buyer will still be there. You set the pace.

Should I share my financials with AZ NGA?

Not in a first conversation. An early, low-specificity approach rarely warrants sharing numbers. If the conversation gets serious, information changes hands progressively and under a signed NDA — at a pace you control.

How do I know if AZ NGA is serious?

Read the approach itself: who sent it (a partner or CEO signals more intent than an analyst template), how specific it is about your actual product, customers, or numbers, and whether there is a concrete reason they are reaching out now. Generic praise that could have been sent to a hundred companies usually means a routine sweep.

Do I need an advisor before responding?

Not to acknowledge an email. But before sharing anything material — numbers, customer names, growth plans — a second opinion from someone whose only job is to represent you tends to pay for itself. An advisor can read the approach, tell you how much interest it really signals, and keep your options open.

What happens if I just ignore it?

Usually nothing bad — an unanswered email doesn't close any doors, and a genuinely interested buyer will follow up. What you give up is information: understanding why they reached out now can tell you a lot about how your business is being seen, even if you have no intention of selling.

← Who is AZ NGA?

If you’ve been approached

AZ NGA approached me — what now?

An acquirer reaching out can feel like a big moment, and it’s normal to be unsure what it means or how to respond. An approach is not an offer, and it doesn’t commit you to anything — it’s the start of a conversation you get to run at your own pace.

The most useful thing to do first is slow down and understand what kind of approach this actually is. The rest of this page walks through who AZ NGA is, how to read the signals, and the practical moves that keep your options open.

Want to talk through the approach before you respond?

Who they are, in short

AZ NGA is a Sydney-based Australian advice and accounting group, legally AZ Next Generation Advisory Pty Ltd. It invests in and supports partner businesses with growth capital, M&A expertise, shared systems and leadership development, backed by funds managed by Oaktree alongside Azimut and local shareholders.

Read the full profile of AZ NGA

What they look for

AZ NGA seeks advice and accounting businesses with capable, client-focused people, established client relationships and long-term growth potential. Its stated ideal partners are ambitious and entrepreneurial, willing to work more closely with the wider group and develop the next generation of business leaders.

Capital model: Corporate acquisition and growth capital backed by funds managed by Oaktree alongside Azimut, management and partner-business owners. Oaktree invested A$240 million in the completed December 2024 shareholder transaction; that is not a standard acquisition cheque size.
Platform or bolt-on: Supports acquisitions and combinations within its existing advice and accounting network, including further acquisitions by partner firms such as McKinley Plowman and Pride Advice.
Majority or minority: The current offer includes strategic partnerships, mergers and outright sales; partner case studies describe equity partnerships. A universal minimum equity stake is not specified.
Founder ownership: Partnership and succession pathways can support continuing business owners and future leaders; the current offer does not prescribe a universal founder-retention percentage.
Geography: Advice, accounting and related business-service firms across Australia.
Ownership: Partner businesses combine local client relationships and entrepreneurial leadership with group capital, transaction expertise, technology, systems and specialist capabilities.
Sector focus: Financial advice and accounting businesses, supported by an integrated professional-services group and shared business capabilities.

How they run acquisitions

AZ NGA discusses the owner’s growth and succession goals and offers a merger, strategic partnership or outright sale. It provides capital, transaction expertise and shared operating capabilities, with succession pathways for founders and future leaders. The current public offer does not specify a standard transaction timetable.

Reading the approach

Not every approach means the same thing. A private equity firm might be running a wide net, or might have a specific reason to want your business. Here’s how to tell the difference.

The signal

Routine BD outreach

Genuine acquisition intent

Who sent it
Routine BD outreachAn analyst or associate, often via a generic template or LinkedIn note.
Genuine intentA partner, principal, or the platform's CEO — someone who can actually transact.
How specific it is
Routine BD outreachPraises the sector and your growth in general terms; could be sent to a hundred companies.
Genuine intentReferences your actual product, customers, or numbers — they've done real homework.
What they ask for
Routine BD outreachA quick intro call to learn more and get to know you for the future.
Genuine intentA view on whether you'd consider a transaction, and often an early sense of scale.
Their timeline
Routine BD outreachOpen-ended relationship building with no particular urgency.
Genuine intentA concrete reason they're reaching out now — a fund mandate, a thesis, a nearby deal.
Where it leads
Routine BD outreachAdded to a pipeline and periodically checked in on.
Genuine intentToward an indicative offer, diligence, and a process — if you engage.

Neither is bad, and neither is a commitment. The point is to read the approach for what it is before deciding how much time and information to give it — an early, low-specificity note rarely warrants sharing numbers, while genuine interest is worth understanding properly.

The moves that protect your position

Whatever the intent, a few simple habits keep you in control of the conversation and your information.

Reply politely and keep the door open — you lose nothing by being courteous.
Ask who they are, why now, and what stage of interest this is.
Take your time; a serious buyer will wait for a considered response.
Get your own read on what the business could be worth before discussing price.
Loop in an adviser who represents you, not the buyer, before sharing anything sensitive.

Don’t

Don't name a price first, or react to a number floated casually on a call.
Don't share detailed financials or customer data before there's an NDA and real intent.
Don't negotiate against yourself by signalling how keen — or how nervous — you are.
Don't let a single unsolicited approach turn into an exclusive, one-buyer conversation.
Don't agree to a binding timeline or exclusivity just to keep them interested.

Wondering what your business could be worth?

Common questions

Is an approach from AZ NGA an offer?: No. An approach is an expression of interest, not an offer — it commits you to nothing. Offers come much later, usually in writing as an indicative offer or term sheet, and only after both sides have chosen to engage.
Do I have to reply straight away?: No. There is no clock on your side of the conversation. A considered reply a week later reads better than a rushed one the same afternoon, and a genuine buyer will still be there. You set the pace.
Should I share my financials with AZ NGA?: Not in a first conversation. An early, low-specificity approach rarely warrants sharing numbers. If the conversation gets serious, information changes hands progressively and under a signed NDA — at a pace you control.
How do I know if AZ NGA is serious?: Read the approach itself: who sent it (a partner or CEO signals more intent than an analyst template), how specific it is about your actual product, customers, or numbers, and whether there is a concrete reason they are reaching out now. Generic praise that could have been sent to a hundred companies usually means a routine sweep.
Do I need an advisor before responding?: Not to acknowledge an email. But before sharing anything material — numbers, customer names, growth plans — a second opinion from someone whose only job is to represent you tends to pay for itself. An advisor can read the approach, tell you how much interest it really signals, and keep your options open.
What happens if I just ignore it?: Usually nothing bad — an unanswered email doesn't close any doors, and a genuinely interested buyer will follow up. What you give up is information: understanding why they reached out now can tell you a lot about how your business is being seen, even if you have no intention of selling.

Want more M&A news and practical founder notes?

Read the full guide: a firm approached me — what do I do?

The truth, first.

General information, not legal, financial, or tax advice. Every situation is different — talk to an adviser about yours.