When Bollington announced its acquisition of Harrogate-based insurance broker Prophet Trade Credit Ltd, the group stated that more acquisitions should be expected through 2020 and, less than a week later, it has finalised its third acquisition of the year, with the purchase of CLA (Risk Solutions) Ltd.
Founded in 2007, CLA is a West Midlands-based commercial insurance broker trading from Sutton Coldfield, with a satellite office in Stafford. The purchase of the company adds 19 staff and over £9 million GWP to the group. Lines of business for CLA include haulage and transport, telematics, and property, alongside a strong book of personal lines business.
“With CLA Risk Solutions becoming the latest company to join our group, we are demonstrating our clear intent to sustainably grow the business in line with our clients’ needs,” said Paul Moors, CEO of Bollington.
“The balance of business at CLA complements our product offering and expands our regional presence. They are a good local broker with a reputation for delivering a tailored personal service,” Moors said. “This makes them a good fit for our acquisition and growth model. I have personally known Adrian Littler [MD of CLA) for over 25 years. We are very pleased to complete the deal and have them on board.”
Meanwhile, Littler added that completing the deal was “great news” for the firm’s clients.
“CLA is now part of a fast-growing and diverse group that is nationally recognised,” he said. “Our clients can rest assured that this development adds strength to CLA’s relationships with insurers and trading partners, ushering in access to more products and services in the months ahead. We are delighted to be part of Bollington and look forward to a successful future as part of the group.”
The recent acquisitions carried out by Bollington have added a combined total of over £16 million GWP to the group since the beginning of the year and have pushed the group above the £180 million GWP mark.