Add-on Acquisition • Insurance

AUB Group Acquires InterRISK Australia Pty

On June 13, 2013, AUB Group acquired insurance company InterRISK Australia Pty from SOULS PRIVATE EQUITY LIMITED

Acquisition Context
  • This is AUB Group’s 9th transaction in the Insurance sector.
  • This is AUB Group’s 9th transaction in Australia.

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M&A Deal Summary

Date June 13, 2013
Target InterRISK Australia Pty
Sector Insurance
Buyer(s) AUB Group
Sellers(s) SOULS PRIVATE EQUITY LIMITED
Deal Type Add-on Acquisition

Target Company

InterRISK Australia Pty

Sydney,NSW, Australia
InterRisk is a provider of corporate insurance broking and risk advisory services for medium to large companies. It commenced operations in May 2004 and has offices in Sydney, Melbourne and Brisbane. Key target areas are; tourism and leisure, financial services and manufacturing industries. InterRisk has the ability to design and place complex local and international insurance programs. It provides value added services such as risk retention analysis, claims advisory, evaluation of corporate risk management and risk financing programs.
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Buyer Overview 1

Buyer

AUB Group

Sydney, Australia

Category Company
Founded 1885
Sector Distribution
Employees2,859
Revenue 1.0B AUD (2025)
DESCRIPTION

AUB Group is an equity-based insurance distribution, specialist underwriting agency, and risk services group. The AUB distribution network comprises 50 brokerages representing over 320,000 clients with $2 billion of GWP and approximately $1.8 billion in funds under management. AUB Group was founded in 1885 and is based in Sydney, Australia.


Deal Context for Buyer #
Overall 9 of 17
Sector: Insurance 9 of 16
Type: Add-on Acquisition 7 of 11
Country: Australia 9 of 15
Year: 2013 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-29 Lawsons Underwriting Australasia

Perth, Australia

Lawsons are a specialist underwriting agency operating in the area of labour hire and recruitment, group training and contracting as well as arranging underwriting solutions for complex liability exposures from offices in Perth, Sydney, Melbourne, Hobart and Brisbane.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-19 Procare Group Pty

Alexandria, Australia

Procare Group is a provider of full service workers compensation and insurance support services. Company provides services including integrated insurance and risk solutions, injury management, training, recruitment and placement of staff, investigations and claims and risk management.

Buy -

Seller Profile 1

DESCRIPTION

Souls Private Equity Limited is a listed investment firm focused on public and private company investments in Australia and New Zealand. Souls prefers growth companies with minimum revenue of AU$10 million and at least AU$3 million in EBITDA. Target sectors include industrial products, plastics, consumer products, financial services, software, healthcare, and insurance. Souls' investment horizon is three to seven years. The Firm will not fund seed or start-up opportunities. Souls Private Equity Limited is managed by Pitt Capital Partners and is headquartered in Sydney.


Deal Context for Seller #
Overall 4 of 4
Sector: Insurance 1 of 1
Type: Add-on Acquisition 2 of 2
Country: Australia 4 of 4
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-19 Specialist Oncology Services

Westmead, Australia

Specialist Oncology Services (SOS) Pty Limited. SOS provides a high quality specialist medical service through consolidation of successful specialist clinics. This is achieved with an accessible ‘brand’ name in an environment where health care is fragmented and uncoordinated.

Sell -