JLT has acquired AssetVal, one of Australia’s largest specialist valuation practices.

AssetVal specialises in complex valuations on property, plant, equipment and infrastructure for financial reporting, accounting, compliance and insurance purposes.

Head of JLT Risk Consulting Paul Johnson says the acquisition is a “strong step” towards JLT becoming a leading specialist valuations provider.

AssetVal MD Phillip Holzberger says the acquisition will enable his business to grow its valuations practice with a wider client base.