Australia's M&A market continues to gain traction.
Recludo Group — the Australian private equity firm, which works by partnering with firms in the broking space to help them scale — has acquired a 51% stake in Victoria-based financial services firm My Expert, marking Recludo's eighth acquisition since launching in mid-2024.
The latest acquisition comes after Recludo scooped up Sydney-based brokerage Pink Finance in March, and mortgage manager Thry Group the month before that. It also comes amid a backdrop of higher interest rates, persistent inflation and global uncertainty.
Tim Brown, chief executive officer of Recludo, said that's likely why deal-making Down Under has picked up.
"It's probably more busy because that uncertainty brings people to a process where they start to think, what does the future hold for us? Is there a better way of doing this? Does Recludo offer some security in the sense of what we bring?" Brown told Australian Broker.
"And in this environment, good brokers come to the forefront, because customers need advice," he added.
Recludo's acquisition streak is far from over. Brown said the firm is currently circling another four to five businesses as part of its 2026 expansion plans, with ambitions that stretch even further.
"We're actually hoping we'll get to 10 more [in 2026]," he said. "We've got a long pipeline of brokers we're talking to."
Brown declined to disclose the purchase price of My Expert, which was founded in 1999 by Brett Wadelton. But said three things attracted Recludo to the firm, which works in home loans, commercial and business lending, specialty finance, property investing, personal loans, asset finance, financial planning and more.
"My Expert is a very diversified business; it isn't just mortgages," Brown explained. "There's a mentoring business and a financial planning business as part of the overall structure.
"And Brett got to a point in his business where he needed help to get to the next level," he continued. "And that's obviously that's what Recludo is all about, unlocking that value and taking businesses up the ladder into the next level.
"And Brett himself," Brown added. "We invest in people rather than businesses. Because if you don't have the right people in place, you can't grow the business anyway. And we just felt Brett's got all the qualities to take that business to the next level."
Backed by Recludo, My Expert is now gearing up for its next phase of growth.
"With Recludo's support, we can invest further in our team, expand our offering and help more Australians make confident financial decisions throughout life," said Wadelton, who also serves as chief executive officer of the firm (and is pictured above far right with his team). "Partnering with Recludo allows us to accelerate our growth while staying true to who we are."
Meanwhile, Recludo, which was launched two years ago by Brown, alongside Ash Playsted, Tom Roche and Jon Corney, has since built a $3.2 billion residential loan book. In 2024, the firm laid out plans to invest in between 40 to 50 brokerages in the next five years.
Brown described Recludo as an "accelerator" for brokerages, to help them scale.
"[Brokerages] can get there in a few years time," he explained. "But using Recludo's expertise, we can get you there in half the time.
"That's the great thing about the mortgage business," he added. "It's always moving."
