Acquisition of Derby-based broker puts Aston Scott back on the acquisition trail
Aston Scott has bought Derby-based broker Bell & Co for an undisclosed sum.
The deal has put Aston Scott back on the acquisition trail. It is the broking group’s first acquisition of 2017, and the first deal it has completed since its January 2016 purchase of Essex based First Commercial Insurance Brokers in January 2016.
Aston Scott said it will retain the Bell & Co brand and look for further acquisitions to bring into Bell & Co over the coming months and years.
The company said it would support Bell & Co managing director Richard Salt’s “ambitious expansion plans” in the region, which include growing gross written premium to £20m “over the next few years”.
Aston Scott chief executive Peter Blanc said: “We are delighted to welcome Richard, Helen, David and the team from Bell & Co to the Aston Scott family.
“The two businesses have a lot in common; both chartered, independent and client focussed. We look forward to supporting Bell & Co with their expansion plans in the region and I look forward to meeting all of the team over the next few weeks.”
Salt added: “We are aiming to grow Bell & Co in Derby to £20m gross written premium over the next few years and as part of Aston Scott we will be very well positioned to achieve this.
“This is an exciting time for Bell & Co and we look forward to meeting our new colleagues in Aston Scott.”
Aston Scott had previously highlighted the North of England, the Midlands and Southwest as regions where it wanted to buy businesses to grow its UK footprint.