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BOQ completes $20m acquisition
Bank of Queensland has been advised on its $20 million acquisition of Centrepoint Alliance Limited’s premium funding business.
Emma Musgrave
Firms: DLA Piper (Bank of Queensland); Logie-Smith Lanyon (Centrepoint Alliance Limited)
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Deal: Bank of Queensland (BOQ) has acquired 100 per cent of Centrepoint Alliance Limited’s premium funding business.
Value: $20 million
Area: M&A
Key players: The legal team advising BOQ was led by DLA Piper corporate partner Lyndon Masters (pictured), with assistance from corporate partners Samantha O’Brien and Bryan Pointon, and senior associate Kelly Morrison.
Deal significance: Centrepoint Alliance Limited is an Australian network of non-institutional advisers and brokers in financial services. Its premium funding division is a leader in business insurance premium funding, originating around 30,000 new loans a year.
This transaction saw BOQ acquire 100 per cent of the business, which will form a new division within BOQ Finance.
“We are delighted to act for BOQ on this transaction, which represents a strategic fit for the BOQ Finance business, as they continue to grow with specialist business segments,” said DLA Piper corporate partner Lyndon Masters.
“The acquisition will also complement their existing finance and banking product offering.”
