Coverforce has bought construction-focused broker MA Risk Solutions’ Australian operations.

The combined group will manage about $180 million of gross written premium and have 110 staff, with employees moving to Coverforce’s Sydney office.

“We’re quite strong in construction but by adding MA Risk we become the strongest,” Coverforce CEO Jim Angelis told insuranceNEWS.com.au.

Coverforce is a broad-based broker serving mid-market and corporate clients, and a member of Steadfast.

MA Risk also focuses on the infrastructure, civil engineering and energy sectors, and has a wholesale broking business.

“We’re trying to build as much scale as we can,” Mr Angelis said. Coverforce has completed seven broker acquisitions and is interested in more.

MA Risk founder Michael Pengly will remain with the business as a senior adviser to Coverforce. He says he considered other potential buyers but “the fit between Coverforce and MA Risk was compelling”.