Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Steadfast acquires IMC

Steadfast acquires IMC through its wholly owned subsidiary NCIB

Steadfast Group Limited (‘Steadfast’) (ASX: SDF) today announced that it has acquired, through its wholly owned subsidiary National Credit Insurance (Brokers) Pty Ltd, IMC Trade Credit Solutions Pty Ltd with a normalised forecast EBITA for the current financial year of $0.8 million.

IMC is a specialist boutique trade credit insurance brokerage that was established in 2008. IMC has been a member of the Steadfast Network since July 2013. NCIB, established in 1985, is a leading specialist trade credit insurance broker in Australia with offices in New Zealand and Singapore. NCIB joined the Network when it was acquired by Steadfast in August 2013.

Mr Robert Kelly, Managing Director & CEO of Steadfast, said: “We are pleased to support NCIB acquiring another Steadfast broker. NCIB, one of the largest Steadfast owned brokers, has substantial depth of experience and a compelling product and service offering. Both IMC and NCIB specialise in credit insurance and credit risk management where we see cross selling opportunities within the Steadfast Network.”

Kirk Cheesman, Managing Director of NCIB, commented, “We are delighted that IMC has decided to join forces with NCIB. This acquisition will assist us with further growth through cross selling opportunities and product development. We look forward to building on the success IMC partners Graham Crozier and Henrik Valentin have achieved over the past six years.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>