Melbourne-based broker McLardy McShane Group has expanded again with the acquisition of a 30% stake in Perth-based brokerage and authorised representative network Apollo Risk Services, its most significant investment so far.

Apollo was founded by Carl King, and director and partner Mark Taylor joined six years ago.

The investment in Apollo, which takes effect from July, will significantly expand the fast-growing company, particularly in WA, McLardy McShane CEO Don McLardy says.

“We are very excited about the possibilities. Carl and Mark have built a great business … and we can see many positive benefits,” he said.

The deal comes after the acquisition of Sydney Insurance Brokers and a stake in Intercharge Insurance Brokers last month.

More than 20 joint ventures and 60 authorised representatives are now part of the McLardy McShane Group and it has grown its branches to include Melbourne, Albury, Bendigo, Byron Bay, Brisbane, Dandenong, Horsham, Kerang, Perth, Rosebud, Shepparton, Swan Hill, Sydney, Tamworth and Warrnambool. In May, it added seven corporate authorised representatives in WA, Victoria and Queensland as part of its national expansion.

Mr King says the new arrangement means its authorised representatives and clients will “obtain the very best products and services going forward”.

“McLardy McShane are a great fit for our business. They have demonstrated professionalism, similar culture and values and can add tremendous benefit to our company going forward,” Mr King said.