COG Aggregation Formed from Major Asset Finance Merger
(25 October 2022 – Australia) COG Financial Services is merging its two asset finance aggregation entities, Platform Finance and Consolidated Finance Group (CFG), to form a major new ASX-listed asset finance aggregation group managing A$6.7 billion in loans.
COG Aggregation, the merged aggregation company, will become the largest Australian asset finance broking firm in the country alongside Connective and FAST Group with A$6.7 billion in asset finance volumes. COG reports that the merger combines the two enterprises resources, systems and services as a combined offering to all COG Aggregation members and benefitting from efficiencies of scale and a combined lender panel.
The 45-strong lender panel will make it one of Australia’s largest asset finance lending panels, giving asset finance broker members a wider spectrum of funders and services. It will maintain its standalone BDM and broker support team for mortgage broker partners and Mark Rayson, former managing director of COG, has been named as the head of COG Aggregations Services.
“This merger is an important part of unlocking more capability and creates the largest, most cohesive and nimble asset finance aggregation company in Australia. Platform Finance and CFG are both powerful standalone providers of asset finance services to brokers around the country. They are market leaders in their segments, and this strategic union will combine their complementary strengths in asset finance and make them available in one place. The merger will help the group focus their efforts and investment into one place focusing on sales support, data insights, technology and processing support” Mr Rayson stated.
“It’s great news for our brokers who now fall into two distinct streams: mortgage brokers who diversify in asset finance will work with Platform Finance, and dedicated asset finance brokers will work with COG Aggregation” Rayson added.
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