The Clear Group inks new deal as it continues acquisition spree

Insurance broker The Clear Group has continued its acquisition spree with the purchase of Heath Crawford and Foster Holdings, a statement released today (14 September 2023) said.

Heath Crawford and Foster specialises in commercial, household, motor, fleet and professional indemnity product lines and has offices in Watford, Manchester and Southend.

Clear Group said acquiring the firm was part of its long-term strategy to “build a balanced and sustainable business”.

And as part of the deal, Clear Group has also snapped up Heath Crawford and Foster’s subsidaries – Heath Crawford and Foster Ltd, ABA Insurance and Merenda and Co Ltd.

Mike Edgeley, chief executive of Clear Group, said: ”Heath Crawford and Foster is a fast growing and successful business, which will add tremendous value as we to continue build for the long term.

”It’s also another great example of how Clear is backing great management teams and their people who share our values and ambitions.’’

’Right thing’

Since being launched by Paul Weinberg in 1982, Heath Crawford and Foster has grown through a blend of organic growth and acquisitions.

In the last three years, the business has doubled in size and now controls £18m of gross written premium (GWP).

The deal will see Weinberg, his fellow directors and a team of 34 people join Clear Group.

Weinberg said: ‘’I’ve followed the Clear journey for many years and have always been impressed by its people and the way they do business.

”Joining forces with Clear now is absolutely the right thing for the growth and future of the Heath Crawford Foster business.’’

Other deals

This came after Clear Group revealed earlier this year (7 July 2023) that it had acquired Mayor Broking and MJB Finningley.

High Wycombe-based Mayor Broking, which was incorporated on Companies House in February 2007,  provides insurance solutions for property owners, fleet, commercial motor and high net worth (HNW) properties. 

MJB Finningley, meanwhile, was incorporated in April 2014 and is based in Doncaster.

The specialist broker provides risk management solutions across fleet, commercial motor and commercial combined.

Later in the month (28 July 2023), Clear Group revealed it had completed its third managing general agent (MGA) deal this year with the purchase of Profile Risk Solutions.

It also acquired a 50% shareholding in Thomond Underwriting as well as One Commercial Speciality during 2023.