Walker Persson & Spargo Ltd (WPS) is now part of Seventeen Group.
The Plymouth-based Chartered Insurance Broker, which was established in 1968 and is a member of broking alliance UNA, was acquired by Seventeen Group – the name behind James Hallam, Touchstone Underwriting, and 4Sight Risk Management – for an undisclosed amount with the backing of Beechbrook Capital.
Led by managing director Steve Rowlands alongside directors Steve Harvey and Colin Watts, WPS will continue to trade under its current brand from its base in the South West. With a workforce of more than 40 people, the independent broker generates £17 million in gross written premium.
“We are very proud of the business we have built in Plymouth and have received fantastic support from our staff, clients, and insurers over the years,” stated Rowlands. “It was therefore of paramount importance to us that we identified a purchaser for our business who were committed independent brokers and ambitious to continue our growth plans in the South West.
“We have known James Hallam and Seventeen Group for many years and are confident that we can offer an exciting future for our clients, staff, and trading partners.”
WPS handles corporate and personal lines business on both regional and national levels, and also deals with schemes and affinity-based clients across a number of sectors.
Commenting on the acquisition, Seventeen Group chief executive Paul Anscombe (pictured) said: “WPS is a highly respected firm whom we know well. I have been truly impressed by their desire throughout our negotiations to grow their presence in the South West and to maintain their focus on client service.
“There are significant opportunities for Seventeen Group to develop our specialist sectors into the South West and to invest in the existing strengths of WPS.”