CCV plans futher acquisitions in the east midlands
Cullum Capital Ventures (CCV) has bought Leicester-based LFE Insurance Services.
LFE is CCV’s first acquisition in Leicester. The consolidation vehicle is keen to buy more brokers in the area, according to CCV chief operating officer Graham Barr.
The broker has around £2m GWP, mainly in SME and personal lines. It is run by directors Adrian and Helen Paintin. All eight staff will be kept and the business will keep its name and premises.
Barr said: “The addition of LFE to our team sees us gain a foothold in Leicester for the first time. It is a strong business in its own right and will also be a great springboard from which we hope to secure broker acquisitions in the east midlands area in the future.”
Helen Paintin said: “Adrian and I wanted to ensure a good succession plan for the business, but we were looking for a way in which we could achieve that while still doing what’s best for our clients and our staff.”
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