AUB Group has announced that it has acquired New Zealand-based brokerage Lowe Schollum & Jones Ltd (LSJ).

The firm has made the acquisition of the Hamilton-based broker through its equity partner BrokerWeb Risk services (BWRS), with the deal effective immediately.

LSJ has more than 1,800 clients with a specialisation in commercial insurance and was founded in 1996 by Mike Lowe, David Schollum, and Carmen Jones.

Mark Searles, CEO and managing director, AUB Group, said that the deal will help the firm build further momentum in the New Zealand market as the M&A space “continues to be active”.
“This acquisition highlights the long signalled and continued expansion of AUB Group in New Zealand,” Searles said.

“We are excited for our partner business, BWRS, and its national expansion. While backed by the professionalism and scale of AUB Group and BWRS, LSJ will remain locally run, by local professionals, for local businesses and clients.”