Austbrokers equity partner Austral Risk Services has purchased a 50% shareholding in SME specialist TDH Insurance Services.

Austral will manage all of the back office administration and financial functions for TDH who will act as a corporate authorised representative under Austral’s AFSL.

The deal effective 1st July, 2013, will see TDH’s staff move into Austral’s offices in Stirling just outside of the Perth CBD.

Tom Heels founder and managing director of TDH will maintain shareholding and continue to service clients and develop the TDH business. 

“We’ve had a long-standing relationship with Steve and the team at Austral,” Heels said. “When my wife Di and I were considering our future plans, Austral were able to develop a model which meant Di could step back from the business, and instead of being burdened with admin I would be able to focus on my clients and new business opportunities. 

“I’m totally comfortable with our decision.  I’m looking forward to working with the Austral team, and I’m excited about the future opportunities which will now flow through for our business.”

Mark Searles managing director and CEO Austbrokers praised TDH for being a “great example of the entrepreneurial spirit that is a core DNA of our partner businesses”.

“It’s another great example of the.  We support that spirit within our network and congratulate Austral on their initiative. I also welcome Tom and TDH into the Austbrokers family,” he added.

“We’ve had a long standing relationship with Steve and the team at Austral," added TDH managing director Tom Heels. "When my wife Di and I were considering our future plans, Austral were able to develop a model which meant Di could step back from the business, and instead of being burdened with admin I would be able to focus on my clients and new business opportunities.

"I’m looking forward to working with the Austral team, and I’m excited about the future opportunities which will now flow through for our business.”

On Monday Insurance Business reported that Austbrokers Holdings had bought a 50% share in WRI Insurance  Brokers.