PSC Insurance Group has bought two broking companies and invested in a technology-driven planning business, as it continues to pursue acquisitions.

It has taken over Perth-based National Franchise Insurance Brokers (NFIB) and Gold Coast-based Riley & Associates, while taking a 16% interest in Clover.com.au.

The NFIB deal is expected to cost about $1.2 million, with an initial $200,000 deposit followed by quarterly instalments over a year, based on revenues.

Administrator Cor Cordis put NFIB on the market earlier this year.

“Given PSC’s national footprint and scale, NFIB will be able to expand its client reach and sales capability and will strengthen PSC’s capability and services to franchise and affinity groups throughout Australia,” PSC said.

The group will also pay about $1.2 million for Riley & Associates, which will be integrated with an existing Gold Coast business.

The acquisitions are expected to contribute a combined $500,000 to earnings before interest, tax, depreciation and amortisation on an annualised basis.

PSC says Clover is an early-stage personal financial advisory and planning business that uses technology to attract clients and deliver services.

“The investment will enhance the group’s ability to evolve its online capability and use of technology to reach our existing and future client base,” it said.

Melbourne-based PSC has been an active acquirer since listing on the Australian Securities Exchange in December 2015. “The pipeline continues to look strong, with more announcements expected in coming months,” it said last week.