FEXCO acquisition expands Oz business

FEXCO, the Killorglin-based global payments company, has commenced the expansion of its Australian business by acquiring a Melbourne-based residential property management company.

FEXCO’s wholly-owned Australian subsidiary, Prudential Investment Company of Australia Limited (PICA), has acquired Inscor Services for over €1 million. The acquired company employs close to 25 people.

PICA is Australia’s largest residential property management company following the acquisition of Inscor Services and has more than 75,000 property units under management. FEXCO’s group managing director, John Nagle said the strategic focus on growing the Australian business will provide a platform to expand further into other markets.