Tue, 28 May 2024 | BUSINESS SALE
A Bromsgrove-based insurance brokers has acquired a company based in Solihull. Jukes Insurance Brokers' acquisition of SO Insurance Services significantly expands its presence in the West Midlands.
Jukes Insurance Brokers, which celebrated 60 years in business last year and is a member of Bravo Networks, supports clients with a broad array of business and personal insurance requirements.
As well as growing its geographic footprint, the acquisition of SO Insurance Services strengthens the company’s knowledge and expertise in key areas and enhances its growth strategy.
Following the acquisition, Mike Clare and David Russell of SO Insurance Services will join the Jukes Insurance Brokers team, bringing its total employee headcount to 20.
Commenting on the deal, Jukes Insurance Brokers Managing Director James Godsall said: "We are delighted to welcome SO Insurance Services and their clients to our family. Their addition to our team means that we can now not only offer greater benefits through access to a broader range of insurers and a wider internal team, but also Mike and David bring great expertise that enhances our offering to customers.”
Godsall added: “We pride ourselves on customer service, and it is exciting to welcome a business and individuals who share this strong commitment."
The acquisition comes amid ongoing strong M&A activity in the UK’s insurance broker market, with the UK recording the highest deal volume in Europe for insurance brokers last year.
However, there are growing concerns that years of consolidation in the broker market may mean that the wave of M&A has peaked. Recent research has revealed that, despite deal volume remaining strong, the value of deals is decreasing, indicating that a shrinking pool of mid-market acquisition targets is pushing buyers to focus on smaller firms.
Read more about the development of M&A trends in the UK insurance sector
Exciting chance to acquire a well-established Independent Financial Adviser (IFA) business in Greater Manchester with significant funds under management and consistent ongoing charges.
This IFA firm in South Wales boasts a robust client base with 540 active households and an impressive £140m in funds under management.
South East based IFAs with approximately £150 million of funds under management are seeking a buyer, while intending to transition and remain with the acquiring firm.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.