Grow Finance to acquire Eclipx Commerical for A$14.6m

Grow Asset Finance, a leading partner for small and medium-sized businesses has agreed to acquire Eclipx Commerical, a business equipment finance company for A$14.6m ($10m). This is an excellent opportunity for Eclipx Commercial to grow as part of a business with a focus on asset finance and complementary expertise. It will be beneficial to customers and the industry as Eclipx Commercial leverages its new scale to continue offering its high-quality asset finance solutions. "The sale of Commerical Equipment Finance Australia is an important step in Eclipx's previously announced simplification plan and contributes to our key objectives of reducing corporate debt and group complexity," Julian Russell, Eclipx CEO.