Propell National Valuers has acquired Melbourne company PropertyLinx Valuations and Advisory.

CEO Bart Mead says Brisbane-based Propell has enjoyed a period of organic growth, “but we are now looking at acquisitions to accelerate that growth”.

He says buying PropertyLinx reflects a desire to at least double the group’s Victorian operations.

Propell has 200 staff and 17 offices nationally. Sydney accounts for 25% of its business, followed by Brisbane and Perth.

“PropertyLinx will make a big difference to our Victorian operations,” Mr Mead told insuranceNEWS.com.au. “We have a national growth strategy, but we’re looking to make Victoria a much bigger part of our business.

“We believe Victoria should be the same size as the NSW part of the business.”

PropertyLinx is the valuer’s first acquisition under the expansion strategy, but more will follow next year.

“The valuation industry has seen a lot of amalgamations and consolidation in the past five years, so there is a much smaller number of firms out there and we have a pretty good understanding of the ones we’d be interested in,” Mr Mead said.

All acquisitions will be integrated into the Propell business rather than running as standalone operations.