Coverforce has announced that it has completed a 50% shareholding acquisition of Leed Insurance Group.
The acquisition, which took effect on 1 July, will see the Leed management team continue to manage and operate the Perth-based business with Con Manetas, CEO, staying with the firm.
Coverforce will provide the business with financial and administrative support, it has been announced, as Leed plans to “embark on an aggressive acquisition growth strategy”.
The business will be rebranded as Coverforce Leed Insurance Broking as an interim step towards the firm adopting the Coverforce brand in Western Australia.
Jim Angelis, CEO of Coverforce, praised the 32-year-old brokerage and said that the deal will allow Manetas and the firm to “realise the significant opportunities this partnership can deliver”.
Manetas, who will also join Angelis and Tony Goldsmith, CEO of Coverforce Partners, on a Coverforce subsidiary board to assist with further expansions, said that joining a firm with a national scope will help the business.
“This partnership provides us with significant opportunities and is an excellent strategic fit for us,” Manetas said.
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