Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

YBR completes acquisition of Loan Avenue

Yellow Brick Road (YBR) has successfully completed the acquisition of mortgage manager Loan Avenue as the diversified finance group continues to push for scale.

Mark Bouris, executive chairman of YBR, says the acquisition has enabled the group to solidify its position in Victoria and South Australia, and is another key milestone in its journey to becoming a leader in the non-bank sector.

“We welcome Loan Avenue management, employees and our distribution partners to the YBR group and look forward to leveraging our marketing platforms to significantly increase Loan Avenue’s lead flow as part of our combined group,” he said.

Advertisement
Advertisement

As part of the acquisition, YBR announced that it has issued more than 2.5 million new, fully paid ordinary shares to the vendor shareholders of Loan Avenue and their associates.

Loan Avenue’s founders and vendors, Paul and Michelle Collins, have agreed to stay on at the mortgage manager to assist in maintaining and driving existing aggregator and broker relationships, as well as supporting integration with YBR.

“We are delighted to join such a fast-growing and diversified group as YBR,” Mr Collins said last month when the acquisition agreement was announced.

“Our focus will be to enhance our broker relationships and drive further product initiatives with YBR, whilst maintaining the high service levels for which we are renowned.”

The deal cost up to $4.1 million in cash and shares, according to YBR.

[Related: YBR announces another acquisition]

YBR completes acquisition of Loan Avenue
mortgagebusiness

Latest News

Liberal senator for WA, Dean Smith, is calling on lenders to convert principal and interest home loans for investors into interest-only repa...

Expectations of an increase in margin pressures and a “significant deterioration” in asset quality have prompted Moody’s to downgrade ...

The central bank of New Zealand has frozen the distribution of dividends on ordinary shares across all banks in the New Zealand market, aff...

FROM THE WEB
podcast

LATEST PODCAST: Managing the influx of COVID-19-related loans

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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