Steadfast Group has announced it will be acquired by a consortium comprising Amwins, Dragoneer, and KKR for $6.00 per share in cash under a Scheme of Arrangement. The deal represents a significant premium of 51.9% to Steadfast’s closing price of $3.95 on 9 June 2026, delivering a material opportunity for shareholders. The Steadfast Board has unanimously recommended the Scheme, subject to shareholder approval and an independent expert assessment that the transaction is in shareholders’ best interests.
The acquisition announcement arrives alongside the release of Steadfast’s FY26 financial results, which demonstrate the strength of the underlying business operations. The company achieved underlying NPAT of $319.5 million, representing growth of 7.7% compared to the prior year’s $295.5 million. Underlying EBITA increased 13.8% to $669.8 million from $588.6 million, reflecting strong momentum across the portfolio. Underlying diluted EPS rose 8.2% to 28.8 cents per share, with underlying NPATA of $366.3 million also growing 7.1% year-on-year.
The premium valuation reflects strong investor appetite for Steadfast’s diversified broking and underwriting platform. Operating across Australasian networks, underwriting agencies, and international businesses, the company has developed a resilient earnings model capable of navigating different market conditions. The $6.00 per share consideration values the company at a compelling multiple relative to recent earnings performance and demonstrates confidence in Steadfast’s strategic position within the insurance broking and underwriting sector.
Steadfast shareholders may receive ordinary and special dividends totalling up to $0.20 per share prior to Scheme implementation, effectively reducing the net acquisition consideration. The transaction remains subject to standard conditions, including shareholder approval, Foreign Investment Review Board clearance, and Australian Competition and Consumer Commission review. Additional regulatory approvals are required from the New Zealand Overseas Investment Office, the UK Financial Conduct Authority, and the Monetary Authority of Singapore. The consortium is targeting implementation during December 2026.
Shareholders should take no immediate action at this time. Key developments to monitor include the Scheme meeting date, the independent expert’s assessment of whether the proposal is in shareholders’ best interests, and progress on the multiple regulatory approvals across the jurisdictions where Steadfast operates. The $6.00 per share price is fixed and will not change unless shareholders approve permitted dividends prior to implementation. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Steadfast Group Limited (ASX: SDF)
Steadfast Group Limited is a general insurance brokerage services provider operating across Australasia, Asia, and Europe. The company offers a comprehensive range of business and personal insurance products, including professional indemnity, cyber, trade credit, workers compensation, home and contents, and motor insurance. It operates through a network of general insurance brokers and underwriting agencies that distribute these insurance products to corporate and individual customers.
If you would like to discuss this announcement or how it might affect your portfolio, request a callback or call us on 1300 889 603.
