LINK acquires Melbourne brokerage firm
Auckland-founded franchise business brokerage firm LINK has acquired Melbourne’s oldest business brokerage company, Klemms Business Brokers.
Klemms has been operating for 73 years, specialising in hospitality, and brings 31 staff and brokers to the LINK portfolio – increasing the total number of staff in Australia from 80 to 111.
Aaron Toresen, LINK CEO, said “The growth capital we invest in Klemms will enable brokers to do very well, which in turn will contribute significantly to our group.”
LINK CFO Suneil Connor said “With a population of 4.9 million, and an annual increase of 125,000, Melbourne is set to overtake Sydney as the country’s most populous city. The ethnic demographics and number of businesses that sit within LINK's sweet spot also make Melbourne a city where we wanted to boost our presence.”
This acquisition further solidifies LINK's global position and comes shortly after the completion of a successful oversubscribed $3.45m capital raise.