Law firm Addisons has advised Nimble Money Limited on the acquisition of its business by SkyCredit Pty Ltd (the parent company of consumer lender Fair Go Finance).
In a transaction completed during August 2024, SkyCredit acquired 100% of the shares in Nimble Australia Pty Ltd and the other subsidiaries owned by Nimble Money Ltd, including Nimble’s loan book and its innovative brand. Nimble Money Ltd was issued with shares in SkyCredit in exchange.
The combination of the two businesses is anticipated to result in a strengthened business (with SkyCredit’s loan book now sitting at close to $100 million) and enhanced offerings to customers.
The Addisons team advising on the deal included Partner Geri du Plessis and Solicitor Erin Miranda.
Geri said, “We are proud to have been involved in the acquisition of Nimble by SkyCredit. It has been a pleasure working with the teams who put this deal together, and we look forward to following the next phase in the combined business’ growth.”