BMS buys Austbrokers Coast to Coast

BMS buys Austbrokers Coast to Coast

18 January 2023

BMS Group has acquired Austbrokers Coast to Coast as the UK-based broker continues to build its operations in Australia.

Austbrokers Coast to Coast is a specialist corporate, business and retail broker based in Burleigh Heads on the Gold Coast. Its specialties include transport, construction, hazardous goods, and SME retail.

BMS closed the deal yesterday to take full ownership of the business without disclosing the terms of the transaction.

Australia CEO Andrew Godden says the investment “represents a significant step in the expansion of BMS in Australia”.

“This latest acquisition further enhances our position in the market,” Mr Godden said. “[Coast to Coast] is a multi-award winning business with an impressive reputation, notable expertise and strong growth trajectory and will be a great asset to BMS’ Australian offering.

“It is fantastic to be able to acquire a company like [Coast to Coast] which is highly invested in supporting its people.”

Coast to Coast CEO Dale Hansen says the partnership with BMS will be “highly beneficial” for the Gold Coast brokerage and its clients.

Mr Godden told insuranceNEWS.com.au in October last year that BMS has achieved “fabulous” growth in Australia, doubling its gross written premium to more than $160 million in the past 18 months.

BMS has made a number of acquisitions to build its Australian business. It purchased Perth-based SRG Group in July last year, its seventh acquisition in the past two years.