CVC Capital Partners has agreed to take a controlling stake in Ambrose Construct Group, a national leader in Australia's insurance repair and restoration industry. The stake will be acquired by CVC Capital Partners Asia VI from existing shareholders, including Australian manager CPE Capital and founders Brett and Melissa Ambrose.

Ambrose manages the repair and restoration of homes and buildings on behalf of insurers and their policyholders, work that is driven by claims rather than economic cycles, and by weather-related events in particular. The group has built technology and workflow capabilities that let it deliver at scale across the country, including national catastrophe response.

Its revenue exceeded A$300m (over $210m) in its most recent reported year, according to IBISWorld data cited by Insurance News.