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Announced

AUB Group offered to acquire Coverforce from Pemba Capital.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Australia

Insurance Brokers

insurance brokerage services

Private

Single Bidder

Acquisition

Private Equity

Friendly

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Majority

Synopsis

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AUB Group, Australasia’s largest equity-based insurance broker network, offered to acquire Coverforce, Australia's largest privately-owned insurance broker, from Pemba Capital. Financial terms were not disclosed. "The proposed acquisition is consistent with AUB Group’s disciplined M&A strategy to acquire businesses that accelerate scale & growth, leverage and expand our expertise in key insurance risk areas and market segments, whilst adding to our core capabilities," Mike Emmett, AUB Group CEO and Managing Director. The deal was terminated on December 9, 2019.

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