Franchise business brokerage firm LINK has acquired Melbourne’s oldest business brokerage firm, Klemms Business Brokers.
Aaron Toresen, LINK CEO, said “The growth capital we invest in Klemms will enable brokers to do very well, which in turn will contribute significantly to our group.”
Klemms has been operating for 73 years, specialising in hospitality, and brings 31 staff and brokers to the LINK portfolio – increasing the total number of staff in Australia from 80 to 111.
LINK CFO Suneil Connor said “With a population of 4.9 million, and an annual increase of 125,000, Melbourne is set to overtake Sydney as the country’s most populous city. The ethnic demographics and number of businesses that sit within LINK’s sweet spot also make Melbourne a city where we wanted to boost our presence.”
This acquisition further solidifies LINK’s global position and comes shortly after the completion of a successful oversubscribed NZD$3.45m capital raise.
Established in Auckland in 1996, last year in Australasia LINK sold more than 660 businesses with a combined value in excess of NZD$300m in the last 12 months.
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