Independent specialist re/insurance broker BMS Group (BMS) has acquired Austbrokers Coast to Coast (C2C), effective January 17, 2023, with the terms of the transaction undisclosed.
Founded in 1982, C2C is based in Burleigh Heads on the Gold Coast in Queensland. It specialises in transport, construction, hazardous goods, and SME retail.
The acquisition aligns with BMS’s ongoing expansion within the Australian market. As part of the deal, C2C’s staff and infrastructure will transfer into BMS’s existing Australian business.
“The acquisition of Austbrokers Coast to Coast represents a significant step in the expansion of BMS in Australia, and this latest acquisition further enhances our position in the market,” said Andrew Godden, chief executive of BMS’s Australian business. “C2C is a multi-award-winning business with an impressive reputation, notable expertise, and strong growth trajectory and will be a great asset to BMS’s Australian offering. It is fantastic to be able to acquire a company like C2C, which is highly invested in supporting its people. I very much look forward to working with Dale and the team.”
C2C principal Dale Hansen, a leading figure in the National Insurance Brokers Association (NIBA) who has worked with the business for more than 16 years, said the acquisition would be highly beneficial for C2C and its clients.
“I’m extremely proud of the talented team we have built at C2C, who have been instrumental in getting us to where we are today,” Hansen added.
The C2C deal follows BMS’s first acquisition in Australia – SRG, an insurance broking and claims management firm in Perth and Queensland.
Godden said the SRG deal put BMS on the map as a viable alternative for other brokerages seeking to divest, sell, or merge.
“We want to grow in specialist areas where we can – and additional specialties could be things like mergers and acquisitions or workplace risk,” he said in a previous statement. “But that, to some extent, will be determined by the cultural fit of the people that we find.”
