Friday, October 9th, 2009 - Whittles
The MGA Whittles Group have contracted to pay $7.2M to acquire six strata management companies from the publicly listed Teys Ltd.

The purchase will make Whittles the second largest body corporate management business in Australia with over 50,000 lots under management. Sister company MGA Insurance Brokers have also taken an interest in the purchase.

The strata management companies being acquired are located in Melbourne, Brisbane, Gold Coast, Noosa and Albury Wodonga.

MGA Whittles Group Executive Chairman, Mr John George said, “This acquisition is a major step in our growth strategy and is a natural fit to our already strong strata management business. It is an exciting and challenging opportunity for our group.”

The MGA Whittles group will be represented in 28 branches around the country and the purchase will lift the gross annual turnover of the group to around $170m.

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Mark Elsdon

P: Phone 0409 692 350
W: www.whittles.com.au/index.html

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Whittles contract to acquire six strata management companies, located in Melbourne, Brisbane, Gold Coast, Noosa and Albury Wodonga.

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