MERCHANT PLACE ACQUIRES LEGALSTREAM ALONGSIDE MANAGEMENT TEAM

News Release - May 2, 2022

Merchant Place Investments has acquired 100% of LegalStream, alongside members of the company's senior management team. The LegalStream equity investment fell within Merchant Place’s target range of $20m- $30m.

Consistent with Merchant Place's ”longer hold, lower risk” investment strategy, the investor group intends to remain owners of the business for the long term and the acquisition was completed without using leverage.

LegalStream is headquartered in Sydney, but operates nationally. It is a leading provider of outsourced mortgage processing services and legal services to Australian banks and non-bank lenders.