Melbourne-based broker McLardy McShane Group has acquired a stake in Sydney-based Intercharge Insurance Brokers, expanding its presence in NSW, the business announced today.

Last week it announced the acquisition of Sydney Insurance Brokers, saying the move will strengthen its position in the market.

McLardy McShane says Neville and Ann Cartwright, who founded Intercharge in 1982, will remain as major shareholders as will the name of the business and all current employees.

The stake takes effect next month.

“We will be able to use some of the expertise in products and markets built by Intercharge since 1982 across the wider McLardy McShane Group,” CEO Don McLardy said.

“In return, we hope to add some future certainty and growth opportunities to an already successful business.

“Once again, we also get extremely high quality people with great family, community and business values to add the great culture that exists within our network.”

McLardy McShane says Mr Cartwright has been searching for a partner for some years to work with the business.

“They have certainly set the scene for an outstanding working relationship and opportunities to grow our businesses,” Mr Cartwright said.

“Key factors for us were looking after our loyal employees and clients and reasonable terms and conditions in our contracts that worked for both parties.”