A change of shareholding signals the beginning of a new chapter for Rapid Solutions.
Niche property services insurer Rapid Solutions is set to build on 25 years of business success with the announcement of a new shareholder.
The insurance, training and technical support organisation, which currently assists more than 2,000 pest managers and building inspectors across Australia and New Zealand, formally welcomed Badger International as a shareholder on May 10, 2018.
Rapid Solutions chairman, Stephen Garrett, said that while the company’s shareholding structure would change, day to day operations of Rapid Solutions would not.
“This is an exciting opportunity for Rapid Solutions and is part of Rapid Solutions’ ongoing commitment to growing the business and continuing to support the pest and building sector,” Mr Garrett said.
Rapid Solutions founders Graham and Marilyn Hellier have sold their shares and will now fulfil their retirement plans. The Helliers created the Rapid Solutions group of companies, which includes Pacific International Insurance Pty Ltd and Rapid Training, in 1993. Their aim was to provide the property, pest management and building inspection sectors with appropriate insurance and training services and products.
Mr Hellier said that he and his wife had endeavoured to find a purchaser that would work with the Rapid Solutions Board, CEO and team to grow the business, support clients and expand into new markets. “We are pleased to see that happening with Badger International and that the legacy we have built over more than 25 years will go from strength to strength,” Mr Hellier said.
Rapid Solutions CEO Belinda Smith also sees the change as a logical and positive step forward towards a stronger future for the company.
“The expertise and knowledge of Badger International will provide ongoing benefits for the sector, enabling Rapid Solutions to integrate best practice and international experience into our suite of insurance and training products and services. This will also enable us to maintain a focus on innovative approaches to emerging customer and sector needs,” said Ms Smith.
Roland Lange from Badger International commented that the acquisition was an ideal alignment for the company’s business expansion plans into the Australian and New Zealand insurance market, and that it looks forward to working with Mr Garrett, Ms Smith and the Rapid Solutions team.
