SHINE ADDS TO ITS CABINET

Written on the 29 October 2014

SHINE ADDS TO ITS CABINET SHINE Corporate Limited (ASX: SHJ) will acquire Sciaccas Lawyers, a personal injury practice, and Sciaccas Family Lawyers.

The initial consideration of the deal will be $8.75 million with deferred consideration subject to earn-outs linked to ongoing and increased financial performance of the acquired entities.

Sciaccas founder Con Sciacca, former federal government minister, will continue in the business following the acquisition.

SHJ managing director Simon Morrison (pictured) says the acquisition is a good fit for the group’s overall strategy.

“This acquisition is an excellent opportunity to leverage Sciacca’s excellent and long standing relationships with both key clients and industry groups alike,” says Morrison.

“It’s consistent with our ‘inch wide, mile deep’ focus on damages based plaintiff litigation, with Sciaccas complementing Shine’s existing personal injury businesses and providing access to additional channels to market.”

The $8.75 million initial consideration equates to four to five times of the estimated financial year 2015 EBIDTA, with similar multiples maintained on the payment of deferred consideration for growth in earnings through the earn-out period.

The acquisition will be funded from Shine’s existing cash and debt facilities and is expected to be earnings per share accretive in financial year 2015.

It will be completed by end of October 2014, but will contribute to SHJ’s earnings from 1 July 2014.



Latest News

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the ...

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter