JLT Australia Buys Recovre, a Provider of Workplace Health & Safety Services

JLT Australia, a subsidiary of Jardine Lloyd Thompson Group plc, announced it has agreed to acquire 100 percent of the shares of Recovre Group from Hawkesbridge Capital.

Recovre is a leading national provider of workplace health & safety and rehabilitation (WHS&R) services in Australia. Employing 280 professionals across a well-established national network of 24 offices, the company delivers targeted, effective support to facilitate ill or injured employees back into work, JLT Australia said in a statement.

Recovre was founded as a division of Allianz in 1987 and has been operating under private equity control since 2006.

Combining Recovre’s WHS&R business with JLT’s existing Benefits Solutions offering creates one of the leading integrated “people risk” providers in the country, with significantly enhanced scale, geographic reach and ability to deliver a comprehensive offering to clients, JLT said. The combination will also enable JLT to develop innovative new products and services in the employee health and rehabilitation space on a national basis, setting new standards for this category of risk solutions in the Australian market.

Following this transaction, Nick Harris, chairman of JLT Australia’s Benefit Solutions division, will assume the role of chairman of the Recovre business while Anthony Zalakos will continue in his current role as executive director reporting into Harris.

Matt Bacon, general manager of JLT Australia Benefit Solutions, will become COO of Recovre, also reporting to Nick. The broader Recovre management team will continue to lead the provision of high quality service in their existing positions.

Source: JLT Australia

Topics Mergers & Acquisitions Commercial Lines Business Insurance Australia