Broker THB Group has signed a deal to acquire the owner of British Equestrian Insurance Brokers (BEIB), British Equestrian Holdings.
A THB statement said: "The agreement, under which THB will acquire 100% of the issued share capital of BEH, provides for initial consideration of up to £2.35m in cash and a further £0.5m in new THB ordinary shares, which will be subject to a two-year lock-in.
"Additional consideration, not expected to exceed £0.5m, will be payable in THB shares on achievement of performance targets for the three financial years following acquisition. The agreement is subject to contract and due diligence and is expected to complete on 7 April 2003."
