ASX-listed law firm Shine Corporate has expanded its presence in Western Australia with the acquisition of local firm Carr & Co Divorce and Family Lawyers.
Brisbane-based Shine will pay $3.6 million, the majority of which will be debt funded, to acquire an 80 per cent stake in the divorce and family law firm.
In a statement to the ASX Shine said key employees at Carr & Co would remain in the business.
Shine was established in 1976 and has 847 employees in 51 offices around Australia, the large majority of those in Queensland.
In 2014 Shine purchased Stephen Browne Personal Injury Lawyers, and a year later it acquired fellow WA-based injury specialist law firm Bradley Bayly Legal.
Shine managing director Simon Morrison said the acquisition would align with the firm’s strategic expansion and enhance its family law capacity.
“In addition to meeting our strategic acquisition criteria, the firm will contribute to Shine’s future earnings growth as synergies are realised,” Mr Morrison said.