AUB Group Limited (ASX:AUB) has today announced a $115 million capital raising in support of acquisition funding, further organic growth, and debt repayment.
In AUB Group’s first equity capital raising since its listing in 2005, the Group seeks additional equity capital to catalyse execution of the Group’s successful diversification strategy. The equity capital will also facilitate future acquisitions AUB Group is actively pursuing from a solid pipeline of opportunities in Australia and New Zealand. This includes the Group’s recently-announced intent to take a majority interest in leading risk advice and insurance broking group Adroit Insurance & Risk.
Discussing the announcement, AUB Group CEO and Managing Director Mark Searles said, “This capital raise signals our firm intent to build on FY18’s success, as we approach 2019. We see a number of strategic opportunities in market, and we’re making strong progress in the execution of our ‘total risk solutions’ strategy, as we respond to evolving market conditions by providing a diverse range of risk management services and solutions.”
Over the past five years, AUB Group has invested approximately $170 million into successful acquisitions, providing the Group with investments in a robust network of diversified risk management enterprises, all supported by AUB Group’s unique ‘owner-driver’ partnership model.
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