Consolidator buys West Midlands broker for £18.3m in second purchase this week
Jelf has announced its second acquisition in as many days with the purchase of West Midlands broker Clarke Roxburgh for £18.3m.
This follows yesterday’s acquisition of Sussex and Kent-based broker Argyll for £9.94m.
The two acquisitions have increased the Bristol-based consolidator’s GWP 35%, from £175m to £242m. Clarke Roxburgh accounts for £46m of this growth. The broker operates from ten offices across the West Midlands.
Jelf chief executive Alex Alway said in a statement to the Stock Exchange this morning: “Clarke Roxburgh is one of the leading regional insurance brokers with a strong reputation in the market. Our corporate activity continues.”
