AF Legal Group Limited (AU:AFL) has released an update.
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AF Legal Group Ltd has announced the conditional purchase of Armstrong Legal’s criminal and family law practices, plus the armstronglegal.com.au website, for an initial sum of $2.25 million plus GST. The acquisition, expected to complete by October 28, 2024, is set to enhance AFL’s legal service offerings and is projected to generate annual revenue of $3.3 million with a net profit before tax of approximately $700,000. The deal, part of AFL’s growth strategy, will be financed through a bank debt from their $9 million NAB facility and marks the company’s expansion into criminal law.
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