Leading Solutions has completed a review of its corporate structure and integrated its various state-based subsidiaries under the one trading name.
CEO, Frank Colli, said it had got to the point where it was too expensive and complex to manage multiple trading names. The systems integrator has been maintaining several state-based entities with separate balance sheets including those of acquired companies, BCA IT and Scala.
“It’s an expensive process to consolidate everything, but we weighed up not merging all those entities from an accounting point of view versus the cost of merging and we’d got to the point where it was cheaper to merge,” Colli said. “We should have done it a while ago, but we’re finally bringing it all under one banner.”
Leading Solutions purchased Melbourne-based player, BCA IT, in November 2006. Although bringing BCA IT’s customers under the Leading Solutions brand was an objective, Colli insisted it was not the main catalyst for the change.
“Before we acquired BCA IT we had six or seven entities – we just had too many of them,” he said.
Leading Solutions has also dropped Pty Ltd from its name and will now trade as a publicly unlisted company. Colli said the change brought it one step closer to listing on the local stock exchange should it choose to.
“We did this all at once to save time – if in 10 years’ time we want to become a listed entity, we’re one step closer to that,” he said. “It’s not on the agenda at present.”