Wealth management business Findex Australia is to continue its expansion strategy with a bid for financial services provider Crowe Horwath.

It will be joined in the proposed acquisition by KKR Asset Management, in a similar arrangement to the recent Centric Wealth deal.

Crowe Horwath has signed an exclusive takeover agreement with Findex that will expire on July 30.

Findex will complete due diligence and undertake negotiations on the deal during this period.

As a result of the agreement, Crowe Horwath has ended talks with other parties, including Anchorage Capital Partners, which submitted a proposal in March.

Crowe Horwath’s annual report for last year shows 4467 shareholders, with the directors holding about 326,000 shares of the 190 million on offer. Last Friday Crowe Horwath shares were trading at 45 cents.

The transaction is subject to approval by Crowe Horwath’s board and shareholders. If it proceeds an independent report will be sent to shareholders.

Crowe Horwath Company Secretary Bruce Paterson says the deal is subject to a number of factors, including offer price, an implementation scheme and board approval.