Both deals are set to spur the growth of the businesses
Addisons has assisted Specialist Equipment Leasing Finance Company Pty Limited (Selfco) and Nimble Money Limited on their acquisitions by Auswide Bank Limited and SkyCredit Pty Ltd, respectively.
The Selfco deal reached completion in late August and sees Selfco set up as the asset and equipment finance division of Auswide – a teamup that Selfco managing director Rob Burden said positions the company to bolster the value it offers to customers and stakeholders.
Meanwhile, under the Nimble Money deal finalised last month, Skycredit takes ownership of all shares in Nimble Money and its subsidiaries, including its loan book. Nimble Money picks up shares in Skycredit in the process.
As a result, Skycredit’s loan book is close to $100m.
Addisons partner Geri du Plessis and solicitor Erin Miranda were part of the team that handled both transactions.
