Media release: KCL Law advises JLG on acquisition of Dressed For SaleMar 4, 2019
KCL Law acted for Johns Lyng DFS Pty Ltd — a subsidiary of the ASX-listed company Johns Lyng Group Limited (JLG) — in acquiring a controlling stake totalling 57% in Dressed For Sale — a pre-sale residential property staging and styling business based in Melbourne and Adelaide.
The strategic acquisition by JLG will see Dressed For Sale integrate with JLG’s existing home maintenance service offering – which includes RestorX, Global Home Response and Johns Lyng Express Builders — providing a more comprehensive full service offering to property vendors and a sound platform for growth.
JLG CEO Scott Didier said: “We see this as the merging of two in-demand service offerings to create one exceptional, full service market leading entity”.
Dressed For Sale has recorded average revenue growth in excess of 25% per annum since 2015. As part of the deal, JLG intends to invest $2 million which includes approximately $1.3 million in capital earmarked for growth initiatives.
Led by Special Counsel, Roger Rothfield, KCL Law handled the whole acquisition as well as undertaking the due diligence reporting obligations for the transaction.
When asked about the transaction, Roger commented, “We were delighted to act for JLG in acquiring its stake in Dressed For Sale as the target business has such clear synergy with the JLG operations”.
Roger was supported by Girish Rao, Associate, of KCL Law’s Commercial and Corporate team in the transaction.
KCL Law has a long-standing relationship with JLG and looks forward to providing a range of legal assistance and advices well into the future.
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