National broker IC Frith has taken an equity stake in NSW generalist brokers Hignett Knight Insurance.

Hignett Knight’s operations and staff, which were previously based in Dural, have relocated to IC Frith’s primary Baulkham Hills location.

IC Frith CEO Simon Cook says the acquisition “is consistent with the IC Frith Broking division’s strategy, set in February 2011, to grow the business to double its revenue over a four-year period”.

“We had planned to grow the business, both through organic means and by acquisition, and I am pleased to observe that both are happening successfully.”

Both companies are members of broker group Steadfast.