Envest has acquired two brokers and an agency this month, finalising the company’s most active investment period since inception.
Founded as a private insurance investment group in 2016, Envest now has interests in 15 agencies, 13 brokers and three insurance related companies. In the past twelve months, the group has increased its ownership of existing companies and investment portfolio size by more than 70%.
Managing Director Greg Mullins said the most recent acquisitions, a stake in Grange Insurance Solutions and majority ownership of Wymark Insurance Brokers, were milestone investments for its broking arm, the Aviso Group.
“The M&A space for brokers is incredibly competitive at the moment and we are pleased to be able to attract deals of this nature. We are also delighted in the quality of the people we are investing in.”
“Grange will be the 13th business to join the Group which now combines 20 offices nationally, more than 240 employees, 20 principals and $400m in Gross Written Premium (GWP).”
Grange Insurance Solutions is based in Perth and is a mature but growing business, with strong and trusting relationships across a range of industries.
Aviso Group CEO Craig Robson said in addition to growing its footprint, Aviso Group was also investing in support systems including a new CRM, risk and compliance support, the appointment of General Manager, David Bailey and two new staff.
“We’re thrilled to have Grange join Aviso Group and feel privileged the founders of this business have entrusted us with the successful business they have built, as we continue to grow it, into the future.
“Grange will continue to be led by Dean Cook, Ken Cook and Stephen Guy, with co-founder, Don Leadbetter, taking this opportunity to step back to part-time work.
Grange Director Dean Cook said their business was attracted to the Aviso Group model and Envest independence in consolidating market which offers fewer and fewer alternatives.
“We have professional and personal relationships within the Group and were very comfortable with the direction and freedom offered.
“We’re looking forward to growing together and leveraging the opportunities afforded by the size and strength of the Group.”
Aviso Group is made up of the following insurance brokers: Aviso WA Insurance Brokers, Fitzpatrick & Co Insurance Brokers (VIC), Aviso EIA Insurance Brokers (QLD/NSW), Acumen Insurance Brokers (NSW), Aviso TAS Insurance Brokers (TAS), Allsafe Insurance Brokers (QLD), Western Insurance Brokers (VIC), Aviso Allpoints Insurance & Risk Advisory (NSW), Sutton Insurance Brokers (NSW), Wymark Insurance Brokers (QLD, NSW) and now Grange Insurance Solutions.
Envest is an independent and privately owned, insurance investment and distribution business with interests in brokers, agencies and insurtechs.