Credit Clear Limited (ASX: CCR) has announced the acquisition of 100% of DRA Group (DRA Group) through its subsidiary trading entities. The transaction, valued at AU$1.5 million, will be paid in a combination of AU$900,000 in cash and AU$600,000 in new fully paid ordinary shares. DRA Group focuses on debt collection, legal disputes, and outsourcing, emphasizing insurance industry services.
Debt Recoveries Australia specializes in insurance and automotive recoveries, ADC Legal focuses on insurance recoveries, and Nova Team Solutions is a business process outsourcing company in the Philippines. With 300 active clients generating AU$2.1 million in revenue and AU$0.45 million in profit in FY23, the acquisition is expected to be immediately cash and earnings accretive. Furthermore, the Philippines operations center offers opportunities for future operational enhancements and expanded services, making it a strategic move for Credit Clear to broaden its offerings in the insurance sector.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
