Yellow Brick Road Holdings Limited
(ASX:YBR), has agreed to acquire South Australia-based mortgage manager, Loan Avenue adding scale to its South Australia business for up to $4.1 million.
The purchase adds a new lender to YBRs panel, additional broker distribution via new third party aggregators and a local sales team to extended its footprint beyond Sydney to Victoria and South Australia.
YBR, Executive Chairman Mark Bouris said the acquisition of Loan Avenue, an established and profitable business, continues the company’s drive for scale.
YBR recorded a net loss of $4.05 million for the half year ended 31 Dec 2015.
