Tresidder Insurance Brokers has been acquired by Gallagher, which says the deal strengthens its Australian presence and expertise in manufacturing, food and beverage, biotech and agriculture. 

With a staff of about 30 across offices in Melbourne, Geelong and Toowoomba, Tresidder serves commercial and personal lines clients nationwide. 

Executive chairman and founder Brad Tresidder, CEO Dean O’Halloran and the entire team will become part of Gallagher’s Australian specialty broking division.

The Melbourne staff will relocate to Gallagher’s office in East Melbourne, while the Geelong and Queensland offices will operate as usual.  

Mr Tresidder, who spent about seven years at Honan before founding the brokerage in 2009, told insuranceNEWS.com.au today he is committed to continuing in his role.

“I’m definitely staying on, no change there,” he said. “I’m only 52. I enjoy what I’m doing, so I don’t have lots of other hobbies. This feels like still making a difference, still having an impact on key staff and their development, and the clients.

“Gallagher is a great fit for us. We’ve had other businesses interested in us, but their values really came through ... We’re all very excited staying on.

“It’s great for Gallagher too because they’ve been wanting to get a bit of a foothold in our region of Geelong, and now they have that.”

The brokerage has had compound annual growth of about 26% for six to seven years, Mr Tresidder says.

He notes the acquisition will help with name recognition among large clients.

“We’re a mid-market to corporate broking outfit without the name ... Sometimes our name proves to be a challenge when we’re being introduced to large organisations. Having the clout of Gallagher is really important to us.”

The deal, for an undisclosed sum, means Tresidder becomes part of Gallagher Australia under departing country CEO Sarah Lyons. She said today that Tresidder’s “expertise, particularly across core regional industries like agriculture and manufacturing, will help us deliver even stronger outcomes for our clients”.

Gallagher says Tresidder has a reputation for “deep client relationships and tailored coverage”.

Chairman and CEO J Patrick Gallagher added: “Tresidder Insurance Brokers is a highly regarded firm that will enhance our client-service capabilities in Australia.

“I am delighted to welcome Brad, Dean and their associates to our growing, global team.”