Resilium Partners continues on acquisition trail
Resilium Partners expects to announce additional acquisitions “in coming months” after last week bringing on board Brisbane-based Cornerstone Risk Group.
The purchase of Cornerstone follows the February acquisition of Fassifern Insurance Services, also located in southeast Queensland, as Ardonagh-backed Resilium continues its expansion.
UK-based Ardonagh secured a majority stake in Resilium in February and in June formed Ethos Broking Australia to pursue mergers and acquisitions in the local market.
Ardonagh Australia Chairman Paul Lynam says he and Ethos CEO and Resilium Partners Executive Director Adrian Kitchin have received approaches “almost daily” from brokers.
“We are thrilled with the growth of both Resilium Partners and Ethos Broking in such a relatively short period of time,” Mr Kitchin said. “We expect to announce a number of additional acquisitions in coming months.”
Cornerstone joint MDs Damien Mulvenna and Scott Mitchell say the brokerage already has an established pipeline for adding like-minded businesses and looks forward to announcing its own acquisitions.
“This merger will provide us with additional resources and enable us to service our clients throughout Australia to a higher level,” the company says on its LinkedIn page.