M&A Deal Summary

Turners Automotive Group Acquires Autosure New Zealand

On November 21, 2016, Turners Automotive Group acquired insurance company Autosure New Zealand from Vero Insurance New Zealand for 34M AUD

Acquisition Highlights
  • This is Turners Automotive Group’s 1st transaction in the Insurance sector.
  • This is Turners Automotive Group’s largest (disclosed) transaction.
  • This is Turners Automotive Group’s 3rd transaction in New Zealand.

M&A Deal Summary
Date 2016-11-21
Target Autosure New Zealand
Sector Insurance
Buyer(s) Turners Automotive Group
Sellers(s) Vero Insurance New Zealand
Deal Type Divestiture
Deal Value 34M AUD

Target

Autosure New Zealand

Auckland, New Zealand
Autosure New Zealand Ltd. is a provider of automotive insurance. The company was founded in 1986 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Turners Automotive Group

Auckland, New Zealand
Category Company
Founded 1984
Sector Financial Services
Employees700
Revenue 344M NZD (2024)
DESCRIPTION

Turners Automotive Group is a New Zealand owned and operated company listed on the NZX and has been providing finance and insurance products for over 30 years. Company operates in two broad markets: used vehicles and commercial goods. Products are sold on behalf of vendors. Turners Automotive Group was founded in 1984 and is based in Auckland, New Zealand.

DEAL STATS #
Overall 3 of 3
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (New Zealand) 3 of 3
Year (2016) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-12 Buy Right Cars

Manukau, New Zealand

Buy Right Cars Ltd. is a Auckland based used motor vehicle import and dealership network. Buy Right Cars was established 18 years ago and has grown to become one of the largest participants in the Auckland market, operating from eight sites with a fully equipped mechanical and import compliance workshop more recently established in Manukau City.

Buy AU$15M

Seller(S) 1

SELLER

Vero Insurance New Zealand

Auckland, New Zealand
Category Company
Founded 1710
Sector Insurance
DESCRIPTION

Vero Insurance New Zealand Ltd. is a provider of insurance to personal, corporate and commercial insurance and risk management products.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 1 of 1
Type (Divestiture) 2 of 2
Country (New Zealand) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-21 Secure Sentinel Pty

Chatswood, Australia

Secure Sentinel Pty Ltd. is a provider of loss & theft assistance and identity theft monitoring and detection services in Australia and New Zealand.

Sell -
Mergr

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