Broker announces first acquisition since receiving major investment

JPM Group, trading as Beam Insurance Solutions, has acquired Hinckley-based Julie Price and Co.

Founded in 1989, Julie Price and Co is a £2m gross written premium (GWP) broker that provides commercial and personal lines products.

As part of the deal, managing director Julie Price and the rest of her team will stay with the business.

The office will also be retained, with there being plans to build on this base in the future.

Steve Faulkner, managing director at Beam, said: “I am delighted to get this purchase over the line. I have been working hard with Price on the deal for some months now.

“We have a few more investment prospects in our sights and look forward to some very exciting future partnerships.”

Price added: “As a local broker of 35 years, it was important to me that the office, staff and myself remain here giving great service to our clients post completion and that we have found a great long-term home.

”I can now look forward to working with Beam to grow the business in Hinckley.”

Investment

This deal is the first for Beam since The Broker Investment Group (TBIG) took a majority shareholding in the business in August 2024.

Following the 49% stake taken in March 2023, TBIG purchased the remaining shares from chairman Dave Johnston.

After acquiring Julie Price and Co, Johnston said: “It’s great to have the fire power behind us with TBIG to execute these sorts of opportunities and we have a clear plan to be £20m plus GWP within three years.

“This deal brings us a step closer.”

Faulkner added: “With the help of TBIG, I am really pleased this one is now completed.

“As a management team, Johnston gave myself and Sarah Cooksey (operations director at Beam) the opportunity to become shareholders when he brought the inward investment from TBIG and it’s great that we are all now aligned in terms of future plans and success.”