Smart is the new utopia

Wilson Asset Management

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.


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