Freight specialist The Davis Group bought
AXA UK has acquired commercial broker The Davis Group. It said the acquisition strengthened its position as the operator of UK's 2nd largest SME broker.
AXA is buying the entire share capital of The Davis Group through its subsidiary Venture Preference Ltd, (VPL) which owns the recently acquired Smart & Cook, Stuart Alexander and Layton Blackham businesses, purchased earlier in 2007.
Stuart Reid, Joint Chief Executive Officer of VPL, said: “I am very pleased that The Davis Group is joining us. It is a well run business and will add diversity to the VPL proposition as we had little presence in the freight and logistics markets.
This acquisition is further proof that AXA remains the preferred choice for many quality brokers who wish to become part of a fast growing, quality brokerage in the UK. The combination of both independence and the strength of AXA give us a unique position within the UK.”
Leigh Smart, Chief Executive of The Davis Group, said: “I look forward to working with Stuart Reid, Chris Blackham and Paul Meehan at VPL. I see their backing as beneficial to our customers and our employees and fundamental to our growth. It is a new and exciting time for the group.”
The Davis Group specialised in commercial and transport insurance.
