Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Commercial brokerage acquires asset finance broker

handshake  handshake
Annie Kane 5 minute read

Commercial finance and insurance brokerage QPF Finance Group has acquired an 80 per cent interest in an asset finance broker for $9.2 million.

QPF Finance Group, a 50 per cent subsidiary of finance and leasing group Consolidated Operations Group (COG), is set to acquire an 80 per cent interest in Access Capital Pty Ltd (Access).

QPF will take on 80 per cent of Access – an independent equipment finance brokerage that specialises in transport, bulk haulage and civil infrastructure sectors – for a cash consideration of $9.2 million.

The deal is being funded through:

  • $4.6 million external borrowings;
  • A $3.6 million capital raising from QPF Finance Group (but with COG and other QPF minority shareholders contributing additional capital in QPF – and COG’s ownership interest increasing to 57.1 per cent); and
  • $1.0 million through current working capital/cash resources. 

The 20 per cent remaining balance of shares remain with the founders/vendors, who have entered into restraints. 

The structure means that the founders will be able to assist with the transition of the management duties and client and broker relationships for a minimum of 18 months.

However, QPF has a call option to increase its shareholding to 100 per cent within five years (via two equal 10 per cent tranches, one exercisable in three years and the other in five years).

The transaction is expected to complete on 2 November 2020, subject to the finalisation of the external borrowing arrangements.

In a statement to the ASX, COG said: “Access is the largest asset finance broker in South Australia and Northern Territory and will provide COG with a presence in this state and territory, thereby completing the company’s ambition of being a diverse, national asset finance broker and aggregator.”


Earlier this year, the equipment finance broking company was on track to merge with non-bank lender CML Group – the parent company of Cashflow Finance.

However, in March of this year, the two companies announced they would be terminating their agreement, with CML later entering into a deal with Scottish Pacific instead. This deal has also since been terminated.

[Related: COG appoints new executive director]

Commercial brokerage acquires asset finance broker
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

Annie Kane

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Email Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.



more from the adviser
tech tools

Breaking News

FICO launches new loan-origination platform

The US analytics company has launched a new digital loan originat...

Liberty A League partnership ta

Breaking News

Liberty scores A-League Women’s football naming partnership

The non-bank lender has become the official naming partner of the...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 29 November - 3 December

The weekly round-up of the biggest news stories from across Momen...