CCV diversifies with latest acquisition
Cullum Capital Ventures has announced a diversification by acquiring a majority stake in Managing Agents Reference Assistance Services Limited (MARAS)
MARAS is a provider of tenant referencing services for letting agents. The business also has its own portfolio of clients to whom it offers traditional insurance broking services.
CCV Chief Executive Tim Johnson commented, “Through our completed acquisitions CCV has built a strong portfolio of clients in the property owners’ field, and it is an area we expect to grow further. The opportunity to invest in MARAS could not be passed up as it reinforces our commitment to this market and expands the range of products we are able to offer our clients.”
Graham Sandley, Managing Director of MARAS will remain with the business and retain a shareholding. Sandley added: “I have been proud to be at the helm of our business as we have grown organically to be a recognised leader in our field. With the business connections and capital available to us through CCV’s investment, I am sure that we can develop the business to an even wider target market.”
CCV’s Chairman, Peter Cullum, welcomed CCV’s latest acquisition “CCV was established in order to bring a flexible and entrepreneurial approach to potential acquisitions. This acquisition shows that CCV is not afraid to invest in complementary services to our core broking activities if we feel the opportunity is right and the team is one we want to back.”