Melbourne-based broker McLardy McShane Group has expanded again with the acquisition of a 30% stake in Perth-based brokerage Apollo Risk Services, its most significant investment so far.

The investment in Apollo, which takes effect from July, will significantly expand the fast-growing company and comes after the acquisition of Sydney Insurance Brokers and a stake in Intercharge Insurance Brokers last month.

More than 20 joint ventures and 60 authorised representatives are now part of the McLardy McShane Group. In May, it added seven corporate authorised representatives in WA, Victoria and Queensland as part of its national expansion.

Apollo founder Carl King says the new arrangement means its authorised representatives and clients would “obtain the very best products and services going forward” and McLardy McShane was a great fit.

"They have demonstrated professionalism, similar culture and values and can add tremendous benefit to our company going forward,” Mr King said.