- Real estate appraiser Acumentis Group (ACU) has entered the Tasmanian market after purchasing valuation business Saunders & Pitt
- The company will purchase Saunders & Pitt for $550,000, in a cash and script deal
- Notably, the purchase will add an additional 5 per cent to Acumentis’ earnings per share
- Acumentis says the purchase is in line with its growth strategy and it plans to hire additional valuers in Tasmania
- On the market this afternoon, Acumentis is up 13.6 per cent and is trading at 12.5 cents per share
Acumentis Group (ACU) to enter Tasmania after purchasing valuation business Saunders & Pitt.
Saunders & Pitt is an independent property valuation and consultancy firm with a long history within Tasmania, operating since 1905.
The real estate appraiser will purchase the Tassie company in a cash and script agreement, totalling $550,000.
Notably, the purchase will add an additional 5 per cent to Acumentis’ earnings per share.
Acumentis says the purchase is in line with its growth strategy and it plans on hiring additional valuers in Tasmania.
“The business has been looking to expand in Tasmania for some time and we are very pleased to be able to do so now by engaging the excellent directors and valuers of Saunders & Pitt,” Acumentis Chairman Keith Perret said.
“Saunders & Pitt has a long and proud history of providing the highest quality professional services to its clients and is an excellent fit for Acumentis, sharing the same focus on excellence and adhering to the same principles of how to do business,” he added.
On the market this afternoon, Acumentis is up 13.6 per cent and trading at 12.5 cents per share at 2:11 pm AEDT.