Thomsons Lawyers acts in Firstfolio Limited’s acquisition of CFS Group

8 December 2010

News

Firstfolio Limited has completed the acquisition of one of Australia’s fastest growing mortgage lending businesses.

Thomsons Lawyers, acting for Club Financial Services Group (CFS), advised on the sale of this highly successful mortgage management business and finance brokerage.

The Thomsons Lawyers’ team led by Tara Page, has previously acted for CFS when they entered into the original financing arrangements with Advantedge in 2006.

ASX-listed, Firstfolio, has now acquired the $3.0 billion (as at 30 September 2010) wholesale and aggregated loan book of the group holding company Club Financial Services Holdings Pty Ltd, and its subsidiaries with effect from 1 October 2010.

This acquisition continues Firstfolio’s momentum gained off the back of acquisitions in the last 24 months including Apple Home Loans, LeaseChoice.