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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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