PSC Insurance Group has entered into a binding agreement to buy Turner Rawlinson & Company, a North London retail broker, for £4.5 million ($8.2 million).

The Melbourne-based broking group’s latest acquisition comes as it seals the purchase of Australian underwriting agency Ensurance’s UK arm for $8.2 million.

PSC says in an investor update on Friday that its purchase of Ensurance UK has secured regulatory approval from the Financial Conduct Authority in the UK.

Turner Rawlinson & Company and Ensurance UK are anticipated to provide an annualised contribution of about $7 million in revenue and $1.8 million in earnings before interest, tax, depreciation and amortisation (EBITDA) to PSC.

Last month PSC raised its full-year underlying EBITDA guidance to $104-108 million from $101-105 million previously and underlying net profit after tax before amortisation to $72-75 million from $70-73 million after a strong first-half result.