Consolidated Operations Group Ltd. agreed to acquire equipment finance broker Centrepoint Finance Pty. Ltd. for up to A$9.5 million.
The Australian asset manager said Aug. 30 that it executed a term sheet for the proposed acquisition. The purchase price comprises A$7.6 million plus a performance-based earn-out over the next two financial years for an additional payment of up to A$1.9 million.
Consolidated Operations Group said the acquisition will strengthen its management resources and options for further acquisitions.
Following completion of the deal, Centrepoint Finance will operate in parallel to Consolidated Operations Group's existing platform consolidated and consolidated finance businesses.
The acquisition is expected to be completed in September, subject to the completion of certain conditions.