NMJ Insurance Brokers has acquired Scunthorpe-based Barry Fenton Insurance, its third and largest acquisition to date.

NMJ, a branch network, was launched by former Equity Insurance Brokers directors Nick Potts and Mike Hutton in 2009.

Barry Fenton Insurance has been trading from its current premises in Scunthorpe since 1972.

The business has been acquired from the Broker Direct group which has made a strategic decision to divest itself of its broking operations in order to concentrate on its core business.

“We are delighted to have acquired Barry Fenton Insurance which has an excellent reputation in the local community” said Potts.

“We know the business well as it is one we looked to acquire some years ago – so we are thrilled to have the opportunity to buy the business now."

Regional director Andrew Kerr and his team are joining NMJ.

Hutton added: “This acquisition gives us a rare opportunity to buy a business which is transformational - it immediately doubles the size of our business, providing us with real scale.

"It fits perfectly with our strategy to buy quality, established businesses in communities which have strong customer loyalty and, by virtue of being located in good underwriting areas, can also provide excellent returns for our insurer partners."

NMJ's previous acquisitions were Ridge Insurance in Glossop and Protheroe Insurance in Belper last year.

Terry Stanley, chief executive of Broker Direct aid “We are really pleased that NMJ Insurance has acquired Barry Fenton Insurance and will continue to trade from the existing premises in Scunthorpe.

"We were aware of their previous interest in the business and know that it will be in safe hands. This deal will ensure that the business can continue to go from strength to strength and secures its future."

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