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Just two months after settling its first move into South Australia, Sydney-based building services company KASE Group has scaled further through the acquisition of Townsend Building Services – a Gold Coast company with a broad national footprint.
KASE Group, which is founded and led by Kurt Saunderson, says the move represents a significant milestone in the company’s growth this year which has seen the insurance industry specialist build on its existing base mostly covering NSW, Queensland and Victoria.
“With offices across Australia and a particularly strong presence in Queensland, Townsend Building Services (TBS) enhances KASE's national footprint,” says Saunderson in a LinkedIn post.
“Together with the recent acquisition of Adelaide Insurance Builders, this further solidifies KASE's position as a leading provider of insurance services nationwide.
“Known for their skilled workforce, exceptional customer service, and decades of experience in the insurance industry, TBS brings invaluable expertise and capabilities to the KASE Group.”
Townsend Building Services, based at Burleigh West, was founded in 1993 by the Taylor family who have owned and operated the business since inception.
Over the past three decades, Townsend - which is led by Brendon Taylor - has grown organically to operate from 11 locations across Australia.
Saunderson says Taylor will join KASE Group as a strategic advisor “where his insights and expertise will continue to drive our collective success”.
The deal for Townsend Building Services comes just two months after KASE Group settled the acquisition of Adelaide Insurance Builders, which took the company into South Australia for the first time.
Adelaide Insurance Builders, led by John Stokes and Andy Taylor, provides building services for insurance companies, their assessors and loss adjusters.
Townsend provides broader end-to-end domestic and commercial building services, while also specialising in insurance repairs and aged care refurbishment projects.
The sale of Townsend Building Services was managed by EP Advisors, led by Michael Vincent and Emil Parthenides, a firm that was engaged by the Taylor family to sell the business via a strategic trade acquisition. Their instructions were to find a buyer that was familiar with the insurance repair sector.
While the price paid has not been disclosed, EP Advisors specialises in private businesses with an enterprise value of between $10 million and $200 million.
“With a national presence, TBS will provide KASE with immediate synergies and access to clients, trades and experience” says Parthenides.
Townsend’s general manager Wendy Keeling and customer relationship manager John Mckenzie will remain with the business following the acquisition.
“Clients of both KASE and TBS can look forward to a seamless transition, maintaining the high standards of professionalism and quality service they have come to rely on,” says Saunderson.
“This acquisition exemplifies KASE’s commitment to strategic growth and its vision to set the benchmark for excellence in the insurance industry.”
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