Armidale Investment Corporation Limited
(ASX:AIK) has announced it has executed all documents for the 50% acquisition of the issued capital of both Linx Finance Australia and QPF Holdings.
Both Linx and QPF offer equipment finance, with Armidale pointing to the synergies of the acquisition with its existing stake in equipment financier Platform Finance and Leasing Group and Hal Group, its wholly owned subsidiary.
Armidale will acquire its stake in Linx and QPF with a mixture of cash and AIK scrip.
The company has also indicated its proposed 80% acquisition of Consolidated Finance Group has been delayed pending the finalisation of a $15 million bank facility.
Armidale Investment Corporation reported a net profit of $14.2 million at 30 June 2016.
