Clear Group announces acquisition of broker

Clear Group has acquired the share capital of R T Waters Limited as it looks to expand its presence in the south east.

Established in 1960, Leatherhead-based R T Waters is a broker that specialises in commercial, motor and liability risks.

It has a team of seven staff that are led by managing director Trevor Hayter.

“The acquisition exemplifies Clear’s continued unique ability to offer support and investment to smaller UK brokers assessing their options in a world of large consolidators,” Clear said.

‘Right time’

This is not the first deal Clear has made this year to expand its regional presence – in July, the broker acquired the book and assets of Essex-based Maynard Milton Insurance Services LLP.

Speaking about the firm’s most recent acquisition, Clear chief executive Mike Edgeley said: “The R T Waters team are well known to us and we are delighted this long-established business, led by an excellent management team, has joined Clear at this exciting time.

“Both our businesses are culturally aligned, sharing the same values of doing the right thing for our staff and clients.”

Hayter added: “This is the right time for us to join forces with the Clear Group as we look to enhance our client proposition.

“Clear Group also offers our staff opportunities to develop and flourish by being part of a fast growing insurance business with an exciting future.”