2nd Nov 2005 07:00
Jelf Group PLC02 November 2005 Jelf Group plc Acquisition The Board of Jelf Group plc ("Jelf Group" or the "Company"), an establishedcorporate intermediary, today announces that it has acquired Farndale Hammond(Healthwise) Ltd, a healthcare benefits consultancy based in Ringwood,Hampshire. The precise terms of the deal are subject to confidentiality agreements but themaximum consideration of c. £0.5m is based on levels of renewal business and issubject to the usual clawbacks if targets are not met during the earn outperiod. Jelf Group plc is based primarily in the West Country and Wales and offers arange of corporate services principally in the areas of commercial insurance,commercial finance, healthcare, employee benefits and financial planning. The acquisition will include the transfer of all staff from Farndale Hammond(Healthwise) Ltd who will continue to be based in Ringwood, establishing a newoffice for the Jelf Group. Commenting on the acquisition, Jelf Group's CEO Alex Alway said:"We are delighted to announce the acquisition of the Healthwise business and itsdedicated team. The purchase further extends our coverage in the South West. Ourexpectations are that we will release the full potential of the customer base byoffering our wider range of services." Further information from: JM Finn & Co Sam Smith Tel: 020 7628 9688 Jelf Group plcAlex Alway (Group Chief Executive) Tel: 01454 272799 Phil Barton (Group Commercial Director) Tel: 01454 272754 Notes to Editors: • Jelf Group was founded by Chris Jelf in 1989. Today, the Jelf Group operates from a number of premises in the West Country and Wales and offers an extensive range of corporate services; The Group advises over 6000 corporate clients across a range of disciplines. • These clients cover the spectrum from significant public companies to small owner managed businesses. Core Jelf clients are medium sized owner-managed businesses, typically employing between one to 50 staff, with a turnover of up to £10 million; • The Group has developed a corporate support infrastructure that has enabled it to make a number of acquisitions over the last four years. These acquisitions span all core areas of the Group's business and have been made to either supplement existing operations or acquire a corporate client base that can be utilised by the enlarged Group. The significant acquisitions were as follows: • 2000 - IFM - IFA based in Bristol - relocated to Yate, Bristol; • 2001 - Corporate Healthcare Management - Healthcare partnership; • 2002 - Spring Gate Insurance - Purchase of a book of commercial insurance; • 2003 - Richard Levinge Associates - IFA business based in Cheltenham; • 2003 - SLF Insurance (Services) Ltd - Purchase of a book of commercial insurance; • 2003 - Kallender Walwyn Ltd - Purchase of commercial insurance business based in Trowbridge • 2003 - Pontin and Stein - Corporate Healthcare partnership. • 2004 - Managed Healthcare Ltd - acquisition of independent Somerset based brokerage specialising in healthcare and private medical insurance • 2005 - Arnold Wills - acquisition of independent financial advisor based in Somerset • 2005 - The South West commercial insurance operations of R.K. Harrison based in Taunton. • 2005 - Acquisition of the financial services business of Crowther Beard LLP, a firm of accountants. Further information is available on Jelf at the Company's website:www.jelfgroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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