Following the acquisition in early July of Autopia, a novated leasing specialist to corporate organisations, Smartgroup later the same month announced the acquisition of Selectus, Australia's largest privately-owned provider of salary packaging and novated leasing.
Together the two acquisitions strengthen Smartgroup's position as a leading provider of employee benefits across all sectors.
Paul King, Selectus CEO has welcomed the acquisition. "We are looking forward to the benefits that being part of a larger organisation provides. Having gotten to know Deven and the senior management team, it is clear Smartgroup and Selectus are strongly aligned when it comes to our values and commitment to clients. I am confident our business will continue to thrive within the Smartgroup family."
Smartgroup CEO, Deven Billimoria said he has been impressed with the recent business performance of Selectus. "Selectus' current management team has been in place since 2012, and since then the business has made remarkable progress. It is already pretty clear the value Selectus will bring to Smartgroup, particularly through their innovative approach to novated leasing, as well as their specialist credentials in the private education sector."
The acquisition of Selectus takes Smartgroup's overall client base to well over 1,000 employer clients and in excess of 200,000 employee customers with outsourced salary packaging.