Two heads may be better than one, but what about two acquisition deals?
That is what Jensten Group can boast of after receiving final regulatory approval for a double brokerage swoop – one for Surrey-based Basil Fry and Company, and the other for Kent-based Bellegrove.
The former is described as the “market leader” in terms of providing insurance for the UK’s self-storage, removals and storage sectors. It was also noted for its expertise across cross-class schemes, in an emailed release announcing the move.
Meanwhile, Bellegrove is noted for providing both risk management and insurance solutions under the Direct Motor Trade brand. It has over 2,500 garages across the UK, and has national franchises as well as dealing with sole-traders. In addition, it boasts an extensive fleet insurance book that focuses on the construction and chauffeur segments.
In total, Jensten Group will pick up a neat 5,000 clients from the double deal – it will also add around £40 million in GWP and 80 staff.
Unsurprisingly, Jensten Group CEO Alistair Hardie was delighted to get the moves over the line.
“When we start talking with a broker, we look at the quality of the client proposition, the capability of the team and the values and culture that underpin the business,” he said in a Press release. “Both Basil Fry and Bellegrove are an excellent fit on all these criteria and, following FCA approval, we’re delighted to formally welcome them to the Jensten family.
“These acquisitions demonstrate Jensten’s attractiveness to specialist independent brokers who are proud of what they accomplish for their clients and people and who want to join a larger business which will back them to develop and grow further.”