Buys northern England broker Rockford
Swinton Group has acquired commercial insurance broker Rockford Insurance Brokers.
The groupd said the deal would substantially increase its B2B offering and would complement the work of its existing commercial arm, Swinton Business.
Allan Hardill and Leon Davidson founded Rockford in 2001 It employs over 50 staff across three Northern offices in Horsforth near Leeds, Huddersfield and Trawden near Burnley, Lancashire and has a premium income of £15 million.
In addition to its corporate commercial client base, Rockford has developed a number of specialist markets within the motor trade, education and medical sectors.
Swinton said: "This combination of generic and niche commercial expertise is an excellent fit for the Group - and the purchase of Rockford demonstrates Swinton's continued commitment to grow its' business through highly strategic acquisitions as well as organically."
Swinton Chief Executive Patrick Smith said: "Since we launched Swinton Business in 2004 we have had great success in commercial insurance but there are still huge opportunities in the sector.
"This acquisition offers us further opportunities with businesses where face-to-face service is expected and where a mix of specialist knowledge, and an understanding of the wider business market, is essential. Rockford has all these qualities and a great reputation. I am delighted they are joining the Swinton Group.
"This purchase also reflects Swinton's proactive acquisition strategy which we are pursuing to grow our commercial insurance offering. Our intention is to exceed £100m GPI through commercial broking over the next two years, both through acquisition and continued investment in organic growth. We are looking to acquire a significant number of additional commercial brokers to achieve this."
Earlier this year Swinton purchased another major commercial broker Vectis Insurance Services, based on the Isle of Wight. Overall the Company has made over 250 broker acquisitions in the past five years, including the retail arm of Budget and on-line motor intermediary its4me.
Rockford founder Allan Hardill said:"The Directors and all of Rockford's staff will continue to work for the Company which will trade under the Rockford name for the foreseeable future and it will remain business as usual for Rockford's existing clients.
"We hope the skills and expertise of the Rockford team will enable Swinton Business to become a major player in the Corporate sector and we envisage a great future for our Clients and staff."
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