COSOL LIMITED – ACQUISITION OF CLARITA SOLUTIONS PTY LTD

MPH is pleased to have once again acted for ASX-listed Enterprise Asset Management (EAM) business COSOL Limited, in connection with its acquisition of leading Brisbane-based EAM company Clarita Solutions Pty Ltd. The acquisition, for which COSOL will pay a minimum of $11.75M and a maximum of $15.5M (depending on the value of earn-out consideration payments) is not only value-accretive and EPS accretive to COSOL shareholders, but also broadens the company’s solutions portfolio and represents the next step in COSOL’s strategic roadmap. MPH, which was involved in the ASX listing of COSOL in January 2020 and its subsequent acquisition of Denver-based AddOns Inc in October 2020, was responsible for drafting and negotiating the NBIO between COSOL and Clarita, undertaking legal due diligence in relation to Clarita, advising on all relevant ASX-related matters and drafting the Share Purchase Agreement and associated documentation by which the transaction was effected.

Mark Burchnall (Director), Paul Cavanagh (Director) and Taila Childs (Lawyer) acted on the transaction, assisted by Laura Zollo.