Integrated Legal Holdings, a firm originating from Perth, has acquired the legal business of The Argyle Partnership in a deal worth at least $579,600.
The New South Wales-based ILH said the acquisition is the first of its east coast expansion since listing on the local market in August last year.
Argyle has offices in Sydney and Melbourne.
Under the transaction deal, ILH has issued a total of 4.14 million of its shares priced at 14 cents each, valued at $579,000, and an undisclosed cash payment to each of the partners in Argyle.
ILH said the cash component will be funded from surplus cash reserves.
Argyle specialises in financial services, wealth management, superannuation and taxation. The firm generates revenue of around $6.5 million each year.
ILH said the Argyle will continue to operate under its current name and under the management of principals Peter Bobbin and Andrew Ireland.
Shares in ILH were steady at 14c at 15:39 AEDT.
