Business finance company CML Group has completed the acquisition rival lender Classic Funding Group.Classic Funding Group adds a A$30 million invoice discounting book, financed through a $45 million warehouse provided by a major Australian bank. The company's $400 million of annual invoice turnover will take CML's invoice turnover to $2 billion.In addition, Classic Funding has a $100 million equipment finance book, financed through a separate $130 million warehouse. The addition of Classic Funding's equipment finance book will boost CML's book to $120 million.CML says Classic's funding structure will give it cheaper funding.CML reported net profit of $8.4 million for 2018/19 - an increase of 164 per cent over the previous year.