AFG continues its Broker Investments program by taking a minority equity position in Brisbane-based asset finance specialist.
Australian Finance Group Ltd (ASX:AFG) today announced it has acquired a 40% equity stake in Network Finance Pty Ltd, an asset finance specialist which has been successfully operating in Queensland for three decades.
The acquisition represents AFG’s most recent investment in an Australian brokerage. This follows the company’s November 2024 announcement of its strategy to expand by utilising cash reserves to directly invest in high-performing, growth-focused brokerages.
The investment in Network Finance marks AFG’s first investment in an asset finance brokerage, demonstrating AFG’s commitment to partner with brokers beyond the residential lending market.
Network Finance, which has offices in Coorparoo and Beenleigh in Queensland, is a highly reputable brokerage that has been servicing its customers since 1995.
The business was named AFG’s Asset Finance Broker of the Year in 2024. Network Finance has a longstanding relationship with AFG having been a member since 2007.
AFG Chief Executive David Bailey described the partnership as a compelling opportunity for both companies to work together to help support and expand Network Finance’s strong foothold in asset finance into the residential and commercial sectors.
Network Finance Managing Director Craig Titmus said the alliance would accelerate the company’s growth trajectory.
“We’ve earned our reputation in asset finance, but leveraging off our loyal customer base we see enormous potential in residential and commercial lending. Partnering with AFG, an ASX-listed company, gives us access to the capital and expertise needed to unlock that growth,” Mr Titmus said.
“With AFG’s backing, we’re positioned to scale rapidly while continuing to deliver the personalised service our customers value.”
AFG has now announced four investments since unveiling the Broker Investments program in 2024. Others include Melbourne-headquartered Empower Wealth Group, Perth-based Lifespan Mortgage Services and Sydney-based Loan Path Finance.
Mr Bailey said AFG’s Broker Investments program had received a strong positive response.
“The four investments to date, including Network Finance, marks just the beginning of our program. Our ambition is to invest in 35 high-calibre groups by 2029,” he said.
He said the Broker Investments team, led by Vik Sukumaran, was engaged in further discussions with brokers across Australia.
For more information about AFG’s Broker Investments program or to express interest, visit www.afgonline.com.au/brokerinvestments
