Vehicle fleet leasing company Eclipx Group has sold Right2Drive business for up to $26.5 million to Melbourne-based financier Growth Factor Group.

The deal comprises of a fixed consideration of $19.2 million, of which $4.2 million to be paid 18 months after completion. It also includes a contingent payment of up to $7.3 million payable at six-month intervals, based on pre-agreed collection rates on the Right2Drive debtor book.

Eclipx bought the company when it was just three years old in 2017 for $67 million.

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