PSC Insurance Group Limited’s A$48 Million Acquisition of Griffiths Goodall Insurance Brokers

HWL Ebsworth advised Griffiths Goodall Insurance Brokers (GGIB) on the sale of its business to ASX listed broker, PSC Insurance Group Limited (PSC) for $48 million.

GGIB is a Shepparton based insurance broker established in 1989 which has grown to become one of the largest regional independent insurance brokers in Australia. GGIB is a well-diversified insurance broker with over 30 staff with particular expertise in commercial, industrial, transport, logistics, pleasure-craft, agri-risk and personal insurance.

The transaction involves cash and scrip in PSC, with some of the purchase consideration subject to adjustment under typical revenue related mechanisms.

HWL Ebsworth advised Griffiths Goodall Insurance Brokers with Brendan Earle (Picture), Kate McKeough, Shaun Cartoon, Peter Kay and Tim Frost.

Involved fees earner: Brendan Earle – HWL Ebsworth; Kate McKeough – HWL Ebsworth;

Law Firms: HWL Ebsworth;

Clients: Griffiths Goodall Insurance Brokers Pty Ltd;

Author: Michael Patrini