Broker Network Holdings plc has announced the goodwill and asset purchase of two general insurance brokers...

Broker Network Holdings has announced the goodwill and asset purchase of two general insurance brokers in Lincolnshire.

They are: Harrow Insurance Consultants of Wrawby; and David Christian Insurance Brokers, of Waltham.

The two companies are to be merged and will trade as Harrow Insurance Consultants (incorporating David Christian Insurance Brokers) from the Waltham site.

The acquisition of these two businesses mark the 13th and 14th acquisitions made by Broker Network since the beginning of 2004. Both are in line with the company's acquisition strategy to purchase the businesses of network members whose principals are looking to exit or retire.

Commenting on the acquisition, Broker Network chief executive Grant Ellis said: “The purchase of these two companies reinforces yet again the strength of our proposition to network members."

“Our original network model continues to grow and prosper and its unique commitment to retaining the acquired company's local identity along with existing loyal staff makes it a safe, sensible and rewarding exit for the owner of the acquired company.”

David Christian also welcomed the acquisition.

“This joint venture makes absolute good sense for the two businesses and for their clients. The benefits that Broker Network will bring are of great value and will give the newly merged company a huge competitive edge in the marketplace”.

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