SYDNEY: COSOL Limited (ASX: COS) has announced the acquisition of Core Asset Co Pty Ltd, a leading asset performance advisory firm. The acquisition, valued at up to $6.1 million, is set to bolster COSOL’s strategic planning and decision support services, providing clients with comprehensive asset management solutions.
Under the terms of the Share Purchase Agreement (SPA), COSOL will acquire all issued capital of Core Asset from Spiral X Pty Ltd for a total consideration of up to $6.1 million.
The payment structure includes approximately $2.9 million in cash and $2.5 million in COSOL shares, priced at $0.9847 per share, totaling 2,538,844 shares. An additional earn-out consideration of $700,000 is contingent on EBITDA performance targets being met.
The acquisition is expected to be settled later this month, with Core Asset projected to contribute around $6 million in revenue and $1.6 million in EBITDA for the fiscal year 2025. This strategic move aligns with COSOL’s growth strategy and is anticipated to strengthen its position as a premier provider of asset management solutions.
Core Asset’s expertise in data-driven insights and solutions is set to enhance COSOL’s Asset Management as a Service (AMaaS), offering clients deeper analytics and insights into their asset networks. The acquisition also promises to expand COSOL’s reach to executive-level asset management professionals and enrich its AM Process practice with strategic planning services.
As part of the agreement, Core Asset founder Joshua Old will join the COSOL senior leadership team and continue to lead Core Asset within the COSOL Group. COSOL’s CEO, Scott McGowan, expressed confidence that the addition of Core Asset will accelerate the development and market growth of COSOL’s AMaaS, citing the Core Asset team’s reputation in the sector.
Mr. Old shared his enthusiasm for the merger, highlighting the combined strengths of both teams in unlocking business value and providing a platform for growth and client impact. The deal is a testament to COSOL’s commitment to becoming a central figure in digital transformation and business operations for its clients, further solidifying its role as a global leader in asset management.
