Macquarie Capital Principal Finance has purchased a 15 per cent stake in privately held insurance platform The Envest Group.
The company is part of The Ardonagh Group and participates in the Australian insurance distribution sector.
The transaction values the company at over $1bn including debt.
The investment is on top of a debt finance package provided by Macquarie Capital Principal Finance earlier this year.
Envest currently includes two large insurance broking networks, Aviso Group and Resilium, and 16 independent insurance agencies with a broad remit of products and services.
It is the largest privately owned distribution platform in Australia, and since February 2023 has been majority owned by Ardonagh, a leading global independent insurance distribution platform, placing $US14bn of Gross Written Product (GWP) annually.
In 2023, Envest made more than 27 acquisitions with consolidated earnings before interest, tax, depreciation and amortisation growing rapidly in the past three years.
It currently has a combined GWP of $1.7bn across Australia.
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