Arthur J Gallagher’s New Zealand broker Crombie Lockwood has acquired insurance broker Reid Manson, which has two offices on the South Island, in Timaru and Ashburton.

The acquisition gives Crombie Lockwood nine South Island locations.

Reid Manson was founded in 1985 by MD David Reid. Dale Rhodes, Anne-Marie Lang and Mark Osborne are the other directors.

Crombie Lockwood CEO Carl O’Shea says the South Island “has always been important to us. We have a well-established business base here and the inclusion of David Reid’s team and their operations enhances this position.”

Mr Reid is also upbeat about the acquisition.

“I am confident [that] as part of the Crombie Lockwood organisation our capability will be greatly improved, including access to global expertise through the Arthur J Gallagher parentage,” he said. “Our clients will continue to deal with the same people, but with many more resources at their disposal.”

Terms of the transaction have not been disclosed.