Clearlake Insurance Brokers will buy Logan Insurance Brokers, creating a business with more than $200 million gross written premium.

The acquisition, due to take effect on Monday, strengthens Clearlake’s footprint across NSW and the broader Australian market.

Clearlake, owned by co-CEOs John Angelis and Yianni Gourlas, says Logan brings a high-calibre team, loyal client base and shared values.

“We’ve admired Logan for some time,” Mr Gourlas said. “They have a strong culture, long-standing relationships, and a reputation for doing the right thing by their clients.

“We’re excited about the opportunities ahead and confident this will bring meaningful value to both businesses.”

Clearlake was the largest member of the Coverforce Partners network before it rebranded last year and became a standalone business with its own financial services licence.  

The acquisition is its first since then and brings its workforce to about 50 people.

“Until now, we’ve grown very rapidly through organic means,” Mr Angelis told insuranceNEWS.com.au.

“That said, we’re now actively looking to complement that growth with strategic acquisitions, and this marks the beginning of a broader acquisition strategy.”

Mr Angelis says Clearlake and Logan – which focuses on SME customers – are both NSW-based, but the business will expand to Brisbane and Victoria in the next 12 months.

“This acquisition reflects our ongoing ambition to grow with purpose,” he said.