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Independent insurance intermediary, Cullum
Capital Ventures (CCV) announces today a quartet of new
acquisitions.
The Group has successfully acquired Ainsbury
Insurance Brokers, C J Russell, Centurian Insurance Associates, and
Knights Insurance and Investment.
The deal with Ainsbury has been agreed under
CCV’s partial ownership scheme with CCV acquiring 85% of the
business. MD, Guido van den Berg remains in place to lead the
company in its next stage of growth. Ainsbury operates from
bases in Manchester and Edinburgh where it employs a total of 23
people.
Three brokers seeking to achieve their own
particular exit strategies have opted to become part of existing
CCV businesses:
Joining Hertfordshire based Moffatt Saunders,
are local brokers Centurian and Knights. Centurian was established
in 1990 by partners Eric Brown and Graham Collins both of whom are
joining Moffatt Saunders. Knights is a general insurance
business with a HNW book and a barristers’ office scheme.
Incorporated into CCV’s Arthur Marsh & Son
Ltd in Uxbridge is C.J.Russell, a business established in 1962 by
Colin Russell. Colin’s two sons, Neil and Martin have moved
across to Arthur Marsh and are looking forward to developing their
careers with CCV.
CCV’s new chief executive Michael Rea
commented: “These deals take CCV’s total number of acquisitions
this year into double figures. Despite the economic
uncertainty, we have had a busy summer on the acquisition front,
and with good access to capital and a strong pipeline of
opportunities, we’re looking forward to the next 12
months.”
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