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Smartgroup widens leasing interests

Smartgroup Corp will deepen its reach into the leasing segment with the acquisition of Autopia, a novated leasing specialist.This will be the fourth acquisition for Smartgroup since listing on the ASX in 2014 and its tenth since starting out in 1999.Smartgroup said it acquired Autopia at an enterprise value of A$36 million for an implied EBITDA multiple of 6.5 times.Its leasing management interests complement the firm's fleet management operations, a line of business added to the firm's portfolio six years ago when it took over an entity then trading as Webfleet and now known as Smartfleet.

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