Tue, 29 Aug 2017 | BUSINESS SALE
Private medical insurance specialist Chase Templeton has finished five acquisitions in the space of just three weeks, under its new owner The Ardonagh Group.
Lancashire-based Chase Templeton joins Autonet, Price Forbes, Ryan Direct and Towergate to become part of The Ardonagh Group. And as part of its long-term “buy and build strategy” Chase Templeton's recent five purchases are adding consultant, broker and independent financial advisor books worth almost £6.3 million in annual premium income (API).
IFA Feast Noble and Co was the largest of these new acquisitions, adding £2 million in API. Chase Templeton has made over 80 business acquisitions since 2013, increasing its API to about £150 million from £90 million in the process. Having also doubled its employees in the same period, with over 120 staff based at its head office in Darwen, Lancashire and its office base in Bridgwater, Somerset.
“We have a proven formula which we have finessed over the years in order to secure maximum value from acquisitions,” said Chase Templeton's mergers & acquisitions director Jeff Tate.
“Now, as part of a wider and exceptionally well-resourced group, we are perfectly placed to execute further and bigger deals.”
Another two acquisitions at least are due to be finalised over the next six months, it is understood.
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