Envest-backed Aviso Group has acquired Townsville-based North Queensland Insurance Brokers (NQIB), in what it describes as a “milestone investment”.

NQIB is the 14th business to join Aviso Group, as investment and distribution group Envest continues its rapid growth. Founded in 2016, Envest now has interests in 15 agencies, nine brokers and two insurance-related companies.

“The M&A space for brokers continues to be incredibly competitive so we are pleased to be able to attract a deal of this nature,” Envest MD Greg Mullins said.

“We are also delighted in the quality of the people we are investing in, and confident it is a terrific cultural fit for both organisations.

“NQIB will be the 14th business to join the Group which now combines 23 offices nationally, giving us a meaningful presence in, and a solid foundation, to continue to build in Far North Queensland, in addition to our existing partners in the region.”

Envest says NQIB is “a mature but growing business, with strong and trusted relationships across a range of industries”.

NQIB will continue to be led by John McKaig as GM, with the experienced Ron Bellert staying on as Chairman.

“We’re thrilled to have NQIB join Aviso Group and feel privileged the founders of this business have entrusted us with the successful business they have built, as we continue to grow it into the future,” Aviso Group CEO Craig Robson said.

Aviso Group is made up of the following: Aviso WA Insurance Brokers, Fitzpatrick & Co Insurance Brokers (Victoria), Aviso Broking (Queensland/NSW), Aviso Select (National), Acumen Insurance Brokers (NSW), Aviso TAS Insurance Brokers (Tasmania), Acumen Insurance Brokers (NSW), Western Insurance Brokers (Vic), Grange Insurance Solutions (WA) and now North Queensland Insurance Brokers (Queensland).