Arthur J Gallagher has purchased Ace-IRM Insurance Broking Group, strengthening its position in the southeastern Queensland market.

Ace-IRM specialises in such areas as strata management, veterinary services and the industrial and hotel and hospitality industries.

The Beenleigh-based company has 15 staff including MD Greg Flower, who has built up the business over the past 34 years.

“Its solid presence in a key growth area south of Brisbane will enable us to further establish our position as a market leader in Queensland and will enhance our acquisition efforts as the partner of choice in the Australian market,” Gallagher Chairman and CEO Patrick Gallagher said.

The global broking company last month acquired Brisbane-based financial advisory business Complete Financial Balance and also recently expanded in WA with the RiskLink purchase.

Commercial Broking MD Sarah Lyons says there is a strong alignment between Gallagher and the Ace-IRM businesses.

“As a growth-driven business we are constantly on the lookout for strategic partners that complement our existing practice and help us to increase local and regional presence and build on our existing capability and offering.”