I took a little parcel in this IPO .Following are some reasons for my liking:
Australian Family Lawyers (AFL) was founded in 2015 as a start-up disruptive family law firm.
Family law in Australia is a $1.1bn industry and is highly fragmented - there is no national family law firm in Australia.
Very fragmented sector; estimated that 45% of all firms employ less than 20 staff and few operate outside their home city.
First mover advantage – the first national,specialist family law platform.
Financials : 27% EBITDA margins YTD. December FY1987% revenue growth in FY18. 9% revenue growth YTD December FY19.EBIDTA Positive and EBIDTA growth of 28.3 % H12019 vs H12018
Innovative client acquisition model . AFL’s client acquisition model utilizes digital marketing techniques employed in various industries in a unique way in the context of the legal industry.
Strong management team and board post listing.
Grant Dearlove,Executive Chairman: 27 years experience as a lawyer and company director, owning, leading and growing private and ASX listed companies . At Shine Corporate, led the growth of “emerging practice areas” (including family law) growing sales from $2m to over $50m during his tenure
Edward Finn, Managing Director• Founder and Managing Director of AFL• Prior to founding AFL, worked as a lawyer for a general service firm with an emphasis on family law and co-founded an online travel guide and online retailer
