AXA has converted its previous preference share investment in Layton Blackham into a 38.9% minority ordinary shareholding.
AXA investment is on an institutional basis in the parent company which will be known as Layton Blackham Holdings Ltd. AXA will be involved only at a strategic level and will have no involvement in the day to day running of the business.
Layton Blackham Group chief executive Chris Blackham said: "This is an excellent deal all round. Layton Blackham now has an even firmer financial platform from which to roll out Layton Blackham Business Solutions network initiative and to continue to selectively acquire quality brokers nationwide."
He said the company's next acquisition would be completed at the end of January.
