On Monday, salary packaging administration and fleet management services company Smartgroup Corporation (ASX: SIQ) announced it would be acquiring novated leasing company Autopia for $36 million. The company said the acquisition will be funded by new debt facilities, existing cash reserves, and $250,000 of Smartgroup shares to be issued to management shareholders of Autopia. Shares in Smartgroup rallied following the announcement and closed up 12.5% for the week. We own Smartgroup as a ‘research driven’ investment for WAM Capital and WAM Research.
Established in 1997 by Geoff Wilson, we are an independently owned investment manager based in Sydney. Today, Wilson Asset Management is comprised of ten investment professionals who offer a combined investment experience of almost 100 years.