Hamilton Locke acted for Resimac Group Limited (ASX: RMC) on the sale of its 100% equity stake in its wholly owned subsidiary Paywise Pty Limited for total cash consideration of AUD$14 million in a management buyout arrangement. Paywise is a salary packaging service provider that operated independently from Resimac’s core Australia and New Zealand lending businesses.
The team at Hamilton Locke was led by partner Patricia Paton and assisted by senior associate Dominic Kleemann and lawyer Morgan Sheargold.
Commenting on the transaction, Patricia Paton said: “the financial services sector is going through a period of transition, and we are very happy to be able to assist our clients in this industry take advantage of the opportunities that provides”.
About Hamilton Locke
Hamilton Locke specialises in solving complex client problems, and working with clients and advisers to building long-term relationships and value. We are culture-led and have a genuinely unique strategy, putting the personal and professional development of our people at the centre of everything we do. With a clean sheet of paper, we have aligned structure and systems around our strategy. Natively in the cloud, with an outsourced back-office and access to technology and infrastructure of a much larger firm, we provide the team with a collaborative environment and tools to focus on client needs without bureaucracy.