2nd Jan 2007 07:01
Jelf Group PLC02 January 2007 2nd January 2007 Jelf Group plc Acquisition of business of John Wason (Insurance Brokers) Ltd Jelf Group Plc, a leading corporate consultancy that specialises in providingcommercial insurance, healthcare, employee benefits, wealth management andcommercial finance, is pleased to announce it has acquired the commercial andpersonal books of business, and the trading name of John Wason (InsuranceBrokers) Ltd. John Wason (Insurance Brokers) Ltd is the Jelf Group's 8th acquisition in 9months and will further develop both the Jelf Group's commercial insurancedivision and its position as one of the leading corporate consultancies inSouthern England and Wales. 2006 has seen the Jelf Group treble the annualized volume of commercialinsurance premiums placed with insurers on behalf of clients. The £4.5minsurance 'book' gained through this acquisition will be added to this total.The fourteen staff from John Wason Insurance Brokers will also be joining theGroup's office in Reading, while the founder, John Wason, will be retiring. The deal will be funded by an existing bank facility with the Royal Bank ofScotland. Commenting on the deal, Jelf Group Chief Executive, Alex Alway, says: 'This latest deal continues our ambitious strategy to be the leading corporateconsultancy in Southern England and Wales and emphasises the Jelf Group'scredentials as the fastest-growing commercial insurance broking business in theSouth West. I am delighted to welcome John Beardmore and the team to the JelfGroup". John Wason, retiring Managing Director of John Wason (Insurance Brokers) Ltd,adds: 'Joining the Jelf Group creates an exceptional opportunity for our clients tobenefit from an enhanced range of services and unrivalled expertise. Being partof a larger organisation will also offer John Beardmore and the staff enhancedcareer development prospects and greater security in a rapidly changingmarketplace'. -ENDS- Jelf GroupAlex Alway, Group Chief Executive 01454 272713Phil Barton, Commercial Director 01454 272754 Pelham PRPolly Fergusson 020 7743 6362Philip Dennis 020 7743 6363 Notes to Editors: • Jelf Group was founded by Chris Jelf in 1989. Today, the Jelf Group operatesfrom a number of premises in the South of England and Wales and offers anextensive range of corporate and private client services; • The Group advises over 12,000 corporate clients, principally in respect ofhealthcare, commercial insurance, employee benefits and wealth managementservices. These clients cover the spectrum from significant public companies tosmall owner managed businesses. Core Jelf Group clients are medium-sized owner-managed businesses, typically employing between one to 50 staff, with a turnoverof up to £10 million; • The Group has developed a corporate support infrastructure that has enabled itto make a number of acquisitions over the last five years. These acquisitionsspan all core areas of the Group's business and have been made to eithersupplement existing operations or to acquire a corporate client base that can beutilised by the enlarged Group. The acquisitions made over the last 12 monthsare as follows: November 2005 - Healthwise Ltd - acquisition of independent corporatehealthcare adviser March 2006 - Goss Group Ltd - acquisition of a substantial commercialinsurance and financial services intermediary, based in the South East of England May 2006 - Brian D Thomas Ltd - acquisition of South Wales commercialinsurance intermediary May 2006 - Cherwell Insurance Management - acquisition of Oxfordshire-basedcommercial insurance intermediary June 2006 - Auto Business Solutions Ltd - acquisition of a specialist vehicleand business finance intermediary, based in Wiltshire October 2006 - Hern Waters & Co - acquisition of a general insuranceIntermediary, based in Ludlow November 2006 - North Cotswold Insurance Services Ltd - acquisition of a generalinsurance book of business December 2006 - Haines Wallace Insurance Brokers Ltd - acquisition of commercialinsurance intermediary, based in Plymouth • 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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