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Scottish Pacific Group acquires fintech lender
Scottish Pacific Group has acquired a fintech lender, in a move to help the business finance solutions company better service smaller SMEs.
Lauren Croft
Firm: King & Wood Mallesons (Scottish Pacific Group)
Value: Undisclosed
Area: M&A
Key players: The KWM team was led by M&A partner Anthony Boogert with support from solicitor Johnson Pang.
Deal significance: Business Fuel is a provider of online loan applications, automated credit assessments and funding approval within 24 hours, for loans of up to $250,000. ScotPac is owned by Affinity Equity Partners and is a leading non-bank player in SME finance across Australia and New Zealand. The acquisition will see ScotPac further expand its product range to better service smaller SMEs.
Reflecting on the transaction, Mr Boogert said: “It was a pleasure to work with the ScotPac and the Affinity team on this strategic acquisition. This is an exciting transaction for ScotPac which will further support its growth in the fintech space.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
