Steadfast acquires IMC through its wholly owned subsidiary NCIB
Steadfast Group Limited (‘Steadfast’) (ASX: SDF) today announced that it has acquired, through its wholly owned
subsidiary National Credit Insurance (Brokers) Pty Ltd, IMC Trade Credit Solutions Pty Ltd with a normalised forecast
EBITA for the current financial year of $0.8 million.
IMC is a specialist boutique trade credit insurance brokerage that was established in 2008. IMC has been a member of the
Steadfast Network since July 2013. NCIB, established in 1985, is a leading specialist trade credit insurance broker in
Australia with offices in New Zealand and Singapore. NCIB joined the Network when it was acquired by Steadfast in August
2013.
Mr Robert Kelly, Managing Director & CEO of Steadfast, said: “We are pleased to support NCIB acquiring another Steadfast broker. NCIB, one of the largest
Steadfast owned brokers, has substantial depth of experience and a compelling product and service offering. Both IMC and
NCIB specialise in credit insurance and credit risk management where we see cross selling opportunities within the
Steadfast Network.”
Kirk Cheesman, Managing Director of NCIB, commented, “We are delighted that IMC has decided to join forces with NCIB.
This acquisition will assist us with further growth through cross selling opportunities and product development. We look
forward to building on the success IMC partners Graham Crozier and Henrik Valentin have achieved over the past six
years.”
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