AUB Group has announced an acquisition by an equity partner as its New Zealand expansion strategy gains momentum.

BrokerWeb Risk Services (BWRS) has acquired Waikato-based broker Lowe Schollum & Jones, which has more than 1800 clients.

AUB CEO and MD Mark Searles says the New Zealand market continues to be active, and adding new partners complements strong organic growth.

“This acquisition highlights the long-signalled and continued expansion of AUB Group in New Zealand,” he 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, Lowe Schollum & Jones will remain locally run, by local professionals, for local businesses and clients.”