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AUB Group momentum continues with Altius purchase of CIM Group

Announcement posted by AUB Group 02 Dec 2015

Sydney, 2 December 2015: ASX-listed AUB Group Limited (ASX:AUB) today announced its equity partner Altius Group Pty Ltd has acquired the CIM Group, a provider of integrated rehabilitation and disability employment services.
 
AUB Group (previously Austbrokers Holdings) acquired 60% equity in Altius Group in January of this year, which, along with a number of other leading providers, forms the AUB Group Risk Services arm. The additions of Altius and the CIM Group reinforce AUB Group’s strong focus on expanding scale and capability in risk services provision as part of its diversification strategy. 
 
“I’m pleased to highlight this bolt-on acquisition in our Risk Services division,” said Mark Searles, AUB Group CEO and Managing Director.  “The addition of Queensland-based CIM Group supports our ambition of national coverage. This expansion of our ability to provide risk services is a win for our partners and especially clients. The culture and vision of all three of our organisations, AUB Group, Altius and CIM Group, have well positioned us to achieve our vision of providing complete risk solutions.”
 
Derick Borean, CEO of the Altius Group said “When we joined the AUB Group family in late January we thought it would enable us to accelerate our growth strategy while staying true to our values and purpose. Our acquisition of an organisation of the CIM Group’s quality supports this trust in the AUB Group owner-driver partnership model and aligns strongly with our ongoing commitment to excellence for our clients. Overnight we’ve grown the scope of our services and capability of our people, while gaining much broader geographic reach in Queensland. This growth in capacity, coverage and expertise is exciting for the business opportunities it presents while being a great win for our clients.”
 
The CIM Group, incorporating CIM Employment and CIM Health, is a privately owned organisation of innovative and integrated rehabilitation and disability employment services. It has more than 20 employees across six Queensland locations.
 
“The reputation, vision and business model of both Altius and AUB Group gave me every confidence that this partnership is the right decision for the CIM Group,” said CIM Group’s Managing Director Donna Valiant. “We are excited about the scope of opportunities and benefits we can now leverage for our people and especially our clients.” 
 
For all media enquiries please contact:
Melissa Montang, PR & Communications Manager, AUB Group
+613 9236 6208 or +61431251339
melissam@aubgroup.com.au

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About AUB Group
 
AUB Group Limited (AUB Group) is the leading equity-based risk management, advice and solutions provider in Australasia.
 
Operating across a broad spectrum of risk and insurance, AUB Group is focused on providing total risk solutions for clients. A top 250 ASX listed company, AUB Group comprises 75 equity businesses that form leading insurance broking networks (Austbrokers and NZ Brokers), underwriting agencies (SURA) and specialist risk services. Serviced through partners, the group represents more than 450,000 clients, across 310 locations, and in excess of $2.6 billion of GWP.
 
AUB Group is passionate about how partnership can amplify business potential. Its unique owner-driver partner model enables business principals to retain active control of their business while also benefitting from group level operational support and strength. The company also actively partners with insurers, funders and underwriters to provide total risk solutions (physical, financial and people).
 
AUB Group (ASX: AUB) was formerly known as Austbrokers Holdings Limited. www.aubgroup.com.au
 
About Altius Group Pty Ltd
 
The Altius Group Pty Ltd is a leading provider of workplace selection, injury prevention and rehabilitation solutions.  Altius Group has five distinct yet integrated divisions spanning occupational rehabilitation, psychological services, physical treatment, employment and medical assessment services. With more than 150 staff across 18 locations, Altius is a leader in specialised and integrated health solutions.