SHINE EXPANDS FOOTPRINT IN WA
Written on the 5 August 2015
SHINE Corporate Limited (ASX:SHJ) has extended its reach in Western Australia, after acquiring Bradley Bayly Legal for $13.3 million.
The acquisition will be largely debt funded with $1 million in Shine shares, and is expected to be earnings per share accretive in FY16.
Established by Brian Bradley and David Bayly in 1995, the Perth-based firm specialises in the personal injuries and large catastrophic injuries sector.
Shine managing director Simon Morrison (pictured) says the group is delighted to welcome Bradley Bayly into its fold.
"Post completion of this transaction, Shine will have a stronger presence in Western Australia in the personal injury areas with our Stephen Browne business," Morrison says.
"In addition to meeting our strategic acquisition criteria, the firm has similar cultures and values and will contribute to Shine's future earnings growth as synergies are realised.
"The acquisition delivers a strategic expansion opportunity and the transaction underscores our commitment to becoming the leader and provider of choice in Western Australia."
The Brisbane-based firm acquired Stephen Browne Personal Injury Lawyers in June last year.
The deal is expected to be completed by August 14.