This may be one of the most challenging periods in modern history, but Ethos Broking, part of the Bravo Group, is refusing to lose any momentum today announcing its latest independent broker purchase.
The company has swooped for Portsmouth-based Compass Network member Hughes & King, which boasts £4 million GWP. The firm, established back in 1988, employs eight staff, all of whom will remain with the business. Once the deal is complete it will also retain its current premises with director Roy Blackburn moving into the commercial manager role.
“This purchase marks another milestone for Finch and their growth ambitions as they acquire their 11th business as part of Ethos Broking,” said Vince Gardner, Ethos Broking M&A director and former MD of Finch Group. “We have known Roy and his team for many years and know they have a strong reputation in South East Hampshire. Hughes & King is an extremely well-run brokerage, with high standards, close client relationships and an energetic team. All of which fit with our culture and values.”
According to Bravo Group CEO Des O’Connor, the strategy for Ethos Broking is unaffected by COVID-19 as it lines up a strong pipeline of acquisition activity going into the summer.
“Bravo Group is a financially strong, resilient and stable business that will continue to build on its well proven track record,” he said. “Added to that we are fortunate to have a strong and resilient shareholder group who remain supportive of our buy and build strategy.
“The current landscape is uncharted territory for all of us and nobody knows for sure how this health crisis will play out. However, it’s businesses that respond quickly and decisively that will reduce the impact on results and of course customers. Therefore, now more than ever before we are looking to partner with high quality, well managed and ambitious management teams that are aligned with our culture, values and ethos. We will maintain our momentum and look forward to announcing our next acquisition in the not too distant future.”