The Folgate Partnership has acquired Northampton-based Broker Network member The FG Watts Partnership.
FG Watts controls £15m of mainly commercial premium, including delegated authority schemes for property owners, offices and shops.
The company will continue to operate from its existing Northampton offices under the name FG Watts Risk Solutions Ltd.
Partners Brian Thompson, Geoff Howes, and Richard Gray will continue to lead the staff of 51, said Folgate.
Folgate said the acquisition would bring the total premium controlled by the Partnership to £490m.
A spokesperson for Broker Network confirmed that FG Watts had “resigned in order that the Partners could sell their business to Folgate to facilitate their retirement”.
