ASX-listed subsidiary acquires stake in Dressed For Sale
KCL Law has advised a subsidiary of ASX-listed company Johns Lyng Group Limited on its acquisition of a stake in Dressed For Sale.
Firm: KCL Law (Johns Lyng DFS Pty Ltd (JLG))
Deal: Johns Lyng DFS Pty Ltd has acquired a controlling stake totaling 57 per cent in Dressed For Sale.
Value: As part of the deal, JLG intends to invest $2 million which includes approximately $1.3 million in capital earmarked for growth initiatives.
Key players: The KCL Law team was led by special counsel Roger Rothfield, with assistance from associate Girish Rao.
Deal significance: Johns Lyng DFS Pty Ltd is a subsidiary of ASX-listed company Johns Lyng Group Limited (JLG).
Dressed For Sale is a pre-sale residential property staging and styling business based in Melbourne and Adelaide.
“The strategic acquisition by JLG will see Dressed For Sale integrate with JLG’s existing home maintenance service offering — which includes RestorX, Global Home Response and Johns Lyng Express Builders — providing a more comprehensive full service offering to property vendors and a sound platform for growth,” said a statement from KCL Law.
“We were delighted to act for JLG in acquiring its stake in Dressed For Sale as the target business has such clear synergy with the JLG operations,” added lead lawyer Roger Rothfield.