Steadfast Group's strategic expansion

Steadfast Group (ASX:SDF) has announced the acquisition of H.W. Wood Limited and HWI France for £23.5 million. This acquisition will enhance Steadfast's capabilities in the London insurance market. The deal is expected to be EPS accretive from the acquisition date. It will be funded through existing corporate debt and cash flow. Completion is anticipated by December 2, 2024, pending approvals.

Steadfast's acquisition and growth strategy

Steadfast's acquisition of H.W. Wood and HWI France aligns with its strategy to increase its London market presence and support its network brokers and agencies. It aims to extend its service range in Australasia and the U.S. and expand its inbound business service from the UnisonSteadfast network. The integration involves managing binders in-house in London, reducing costs and increasing revenue. This acquisition contributes to Steadfast's fiscal year 2025 acquisition target of $300 million. Leadership continuity is ensured with Steve Rudduck remaining as Managing Director. This move highlights Steadfast's commitment to international expansion and enhancing services in key markets.

Executive insights on Steadfast's acquisition

This acquisition significantly enhances our ability to support our network brokers and agencies in Australasia, the U.S., and globally, providing a pathway for international growth.