CCV closes 2009 with 11th acquisition
Published Date: 15/01/2010 12:03:27
Independent insurance intermediary, Cullum Capital Ventures (CCV) announces the successful acquisition of Just Insurance Brokers Limited at the end of December, marking its eleventh and final acquisition of 2009.
Established in 1992, Just Insurance Brokers operates out of Hemel Hempstead and employs a total of nine people. It has a solid book of commercial business. The deal has been agreed under CCV’s full ownership scheme with CCV acquiring 100% of the business. Current managing director, James Brown, will remain with the business to manage key client relationships and Robert Simpson will join Just Insurance from CCV business Moffatt Saunders, to take up the role of managing director and lead the company as it enters its next stage of growth. Robert originally sold his business to CCV in April 2008 and since then has played a key role in the successful development of Ware based Moffatt Saunders alongside MD Ceri Langford, which has seen it increase new business by 40% year on year.
CCV’s chief executive Michael Rea commented: “Despite the challenges that 2009 threw down, I am delighted that we have met them head on and continued with our planned series of acquisitions throughout the year. We have a very healthy pipeline for the New Year and I am confident that we are in the strongest possible shape to achieve our ambition of becoming one the of the UK’s top ten brokers.”
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