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Equity-One sells to Westlawn Finance

Equity-One Mortgage Fund Limited has secured its sale to Westlawn Finance Limited with assistance from Mills Oakley.

March 14, 2022 • By Naomi Neilson
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Equity-One sells to Westlawn Finance
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Firm: Mills Oakley (Equity-One Mortgage Fund Limited)

 
 

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Deal: Mills Oakley has advised the founder and owner of Equity-One Mortgage Fund Limited on the sale of Equity-One to Westlawn Finance Limited, a 75 per cent-owned subsidiary of COG Financial Service Limited.

Value: N/A

Area: M&A

Key players: The team was led by partner Daniel Livingston, who was assisted by associate Billy Riddle and lawyer Prue Tyson.

Deal significance: The transaction was structured in four tranches. The first tranche saw 70 per cent of the issued capital acquired on 1 March 2022 for a cash consideration of $24 million, and the remaining 30 per cent will be progressively subject to options exercisable over three tranches between 2024 and 2027.

Commenting on the transaction, Mr Livingston said: “Mills Oakley has enjoyed a long relationship with the founder and owner of Equity-One and it was a pleasure to achieve a fantastic exit.”

Naomi Neilson
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly, as well as other titles under the Momentum Media umbrella. She regularly writes about matters before the Federal Court of Australia, the Supreme Courts, the Civil and Administrative Tribunals, and the Fair Work Commission. Naomi has also published investigative pieces about the legal profession, including sexual harassment and bullying, wage disputes, and staff exoduses. You can email Naomi at: naomi.neilson@momentummedia.com.au.
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