Chief executive notes that the broker is ‘approached all the time by parties keen to invest in The Clear Group, but this does not mean that we are for sale’
Mike Edgeley, chief executive of The Clear Group, has confirmed that the insurance intermediary organisation is “not up for sale”, despite industry whisperings to the contrary.
Industry sources told Insurance Times this week that The Clear Group was laying the groundwork for new ownership, either through selling the business or by undertaking a private equity flip.
The broker’s most recent private equity (PE) deal was completed in July 2018 with ECI Partners.
The mid-market PE firm, which specialises in management buyouts, buyins and minority deals, has now invested in Clear Group for nearly five years.
However, Edgeley has emphasised to Insurance Times that “The Clear Group is not up for sale” – even though the firm is “approached all the time by parties keen to invest”.
He said: “With the backing of our current investor, ECI, we have made great progress and have an ambitious growth strategy planned for the next few years.
“We have grown considerably as a group and are poised to make further acquisitions this year.
“As a successful and growing broker, we are approached all the time by parties keen to invest in The Clear Group, but this does not mean that we are for sale.”
The Clear Group has continued its own M&A purchases this week, confirming on 24 January 2022 that it had bought Ashford-based broker Kent Insurance Brokers – this marks the 32nd acquisition the intermediary has completed since its inception in 2001.
No comments yet