Private medical insurance broker Chase Templeton has completed its fourth acquisition of 2016 with the purchase of Manchester’s Wellbeing Health Insurance Ltd.
The deal has seen the Darwen, Lancashire, headquartered business acquire a book worth nearly £880,000 in annual premium income, of which 80 percent is generated by SME clients.
Completion of this latest transaction follows last month’s acquisition of Leeds-based Independent Health Services and January’s purchases of Preston’s Health Equity Solutions and Caledonian Health Solutions of Kelso. Wellbeing was owned by Graham Harfleet who is relocating to Scotland after his wife and fellow director Elizabeth secured a new position with the Methodist Church.
“Whilst not one of our bigger acquisitions, Wellbeing Health Insurance nonetheless brings another solid and valuable SME client book to the business,” commented Chase Templeton’s chief executive officer, Warren Dickson. “It’s a good buy which also precedes a trio of more substantial deals which are pipelined for completion between now and the end of May.”
The acquisition maintains the momentum of the company’s aggressive buy and build strategy which was has seen Chase Templeton become the leading consolidator in the UK’s PMI sector.
Since securing backing from Manchester finance house Palatine Private Equity, the company has completed over 60 deals, including high profile acquisition targets such as Atlas Consulting Group, Avanti Healthcare and Consilium Employee Benefits.
The company now manages policies worth over £150m and employs some 115 staff across its three UK sites.
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