AN INSURANCE company in Reading has completed the acquisition of an insurance broker.
Macbeth has completed the purchase of Surrey-based insurance broker, Insurance Services Surrey Ltd (ISS), consolidating its position as a leading regional broker.
Macbeth’s purchase takes its Group GWP income from £41m to £45m and sees the Reading-HQ based team grow to 73, including the former owners of ISS; Peter Sambrook, John Goodson and Rob Tipping who, together with the wider ISS team, will remain with Macbeth.
Reading law firm Field Seymour Parkes advised Macbeth on the acquisition, with accountancy and advisory firm White Hart Associates, also acting for the business.
Paul Macbeth, CEO, said: “We’re thrilled to welcome Peter, John, Rob and the wider team to the Macbeth family–we have known John for several years and as soon as we met Peter and Rob, we knew this was a fantastic opportunity to work together.
“We don’t actively look to acquire but in ISS, we recognised a business that, like Macbeth, puts its people first and is totally focused on providing their clients with an exceptional service.
“We’ll continue to consider selective acquisitions in the future, if the fit’s right from both that cultural and geographical point of view.
“This isn’t about being the biggest–it’s about being the best we can be, and having some fun along the way.”
Peter Sambrook, Managing Director at ISS, said: “This was never about selling to the highest bidder for us, but finding the right fit.
“Paul and Ben share the same approach as us; putting service, staff and their clients first, and we are looking forward to this next chapter working with them.”
