MGA Insurance Brokers has bought Adelaide-based Barker Meier from the company’s receivers KordaMentha for an undisclosed sum.

Barker Meier went into receivership last year and was recently offered for sale, MGA GM Paul George told insuranceNEWS.com.au.

“We believed the Barker Meier business was fundamentally sound and approached the receivers KordaMentha,” he said.

“After examining the business, we made an offer that was accepted and it officially became part of the MGA group on February 29.”

Mr George says one of Barker Meier’s co-founders, Ken Barker, has joined MGA as a corporate authorised representative.

Most of the staff from Barker Meier’s Adelaide and Melbourne offices have been retained.

Late last year, MGA bought a portfolio from Affinity Insurance Services and also opened an office in Perth.

Mr George says the company now has offices in all mainland cities as well as a number of key regional centres.