Exeter-based Fidelius Insurance Services buys rival broker in Devon
Exeter-based Fidelius Insurance Services Ltd has acquired Ottery Insurance Services.
Ottery Insurance Services, based in Ottery St Mary in Devon, currently places around £2.4m in annual premiums.
Under the terms of the deal, Fidelius will retain all nine employees.
Fidelius, which also has offices in Bath, announced the acquisition as part of ambitious plans to grow its business in the south west.
Matt Sanders, the managing director of Fidelius, said: ‘Ottery Insurance Services is a very successful broker with an impressive client list, excellent staff and we are delighted to have completed the deal. Clients will benefit from the enhanced service and competitive pricing we can deliver from the larger group as we strengthen our presence in the region.’
Bruce Archibold, managing director of Ottery Insurance Services said: “Matt Sanders and I have been talking for the best part of two years and during that time have built up a significant level of trust and knowledge of how our respective businesses work. I am delighted that we have completed the deal and look forward to moving the combined and much enhanced, business forward.”
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