It was announced today that West Yorkshire based insurance broker Lockyers has made its first acquisition since becoming an Ethos Broking partner in 2018. The broker has purchased Newcastle-based independent broker and Broker Network member, Bernard Saxon General Insurance Services Ltd (BSIS).
Read more: Ethos Broking welcomes Hugh J Boswell to the group
BSIS, which was established in 1984, manages £5.5 million GWP and specialises in commercial lines business and supporting clients across the UK. The brokerage is owned and run by Patrick Carney and Scott Kinnaird along with eight other staff members, all of whom will remain with the business post-acquisition.
“We have both been Broker Network members for many years, are similar businesses and share many working practices,” said Carney. “We have known Jon [Newall, chairman of Lockyers] for a long time and he and his team have been great to work with from the outset; we look forward to working closely with them in the future. We have grown the business substantially in recent years and look forward to continuing its growth in the years ahead.”
Lockyers which was established in Wakefield, West Yorkshire in 1981, has grown from a small shop to a leading independent insurance broker and operates with strong commercial ties across the region. The brokerage employs 17 people and focuses on commercial lines business, with an emphasis on the leisure and SME sectors.
Commenting on this acquisition, Newall said: “I’m delighted to be making our first acquisition as part of the Ethos Broking family. This is a fantastic start to the New Year for us and we’re excited to begin 2020 with such a prominent deal.”
“BSIS has a proud tradition of serving commercial and personal clients across the UK and providing high quality advice,” added Lockyers’ MD, Martin Weaver-Parker. “They have an extremely knowledgeable team and strong culture which aligns with ours. We can’t wait to begin working with Patrick and Scott and the team, all of whom will bring additional capabilities to our expanding team.”
