The Australian wholesale mortgage specialist Resimac has been named as the investor behind Allied Farmers' raising of $7m capital.
Up to now, Allied Farmers had kept the identity of the investor under wraps since signing the deal in late September, indicating only that the money would enable it to consolidate and restructure its business.
Chairman John Loughlin announced Resimac as the investor on Tuesday morning, ahead of the company's annual meeting in Hawera.
He says its expertise will help the company expand its finance business, particularly in the acquisition of Hanover and United Finance's loan books.
Resimac chief executive Warren McLeland will join the board of Allied Farmers; further board appointments will be announced later.
