The Jensten Group has acquired specialist commercial broker Basil Fry & Company.
The deal brings an additional £25 million, 41 staff and over 2,000 clients to the Jensten Group. It’s also the second sector-focused broker acquisition for Jensten in the last seven days, after the group’s deal with specialist motor trade broker Bellegrove. Group CEO Allistair Hardie said then that “further announcements” were to follow soon.
Surrey-based Basil Fry provides insurance to the UK’s removals, storage, and self-storage sectors, including several associated industry organisations. Managing director Greg Wildman will continue to lead the business, reporting to Jensten’s retail managing director Rob Organ. Established 50 years ago, Basil Fry now looks to grow further in the UK and Europe.
“After significant sustained growth for many years, we needed to find a powerful partner to develop our service offering both in the UK and in Europe,” said Wildman. “We are very excited about the opportunities that Jensten will provide to us.”
Wildman cited Jensten’s focus on Basil Fry’s clients and staff as the reason for the partnership. “We had various opportunities to consider elsewhere but it was clear that our shared ethos would make this transition a success,” he continued in a statement.
“Basil Fry is the market leader in its chosen sectors and another top-quality brokerage that has chosen Jensten as its acquisition partner. I look forward to welcoming a further 41 talented colleagues to the Jensten family,” said Hardie. “Jensten’s ability to continually attract established, entrepreneurial brokers stands testimony to its culture – putting people and clients first.”
The Jensten Group is comprised of three insurance distribution businesses: Jensten Insurance Brokers, the Coversure Franchise network, and Jensten’s wholesale division, which consists of Jensten Underwriting and Jensten London Market. Since it launched in 2018, it has now grown to place more than £400 million in the market.