SHINE ACQUIRES FAMILY LAW FIRM
Written on the 22 October 2015
SHINE Corporate Limited (ASX: SHJ) has bolstered its practice offering, after acquiring Best Wilson Buckley Family Law for $5.4 million.
Largely debt funded, the deal is expected to be earnings accretive in FY16.
Shine managing director Simon Morrison (pictured) says the strategic expansion will capitalise on emerging practice areas, combined with the firm's personal injury business.
"We're excited to be welcoming Best Wilson Buckley Family Law into the Shine Group," Morrison says.
"While Shine has existing family law practices the company has, for some time, been considering a more substantive entry into the family law market in line with our emerging practice area strategy.
"Additionally the synergies generated by being able to offer our clients greater support in the area of family law complements our existing personal injury business, which remains the back bone of our firm.
"We're also confident of the additional capabilities brought into the team through the acquisition, coupled with the alignment of cultures, will fortify Shine's future earnings growth."
The maximum total consideration of the acquisition is $6.2 million, with a small scrip component of $750,000.