Another acquisition for Peter Cullum's business
Cullum Capital Ventures has purchased the general (non-life) insurance business of K F Garner & Co.
Based in Warrington, the company was established in 1983 and controls gross written premiums of £2m. It has also developed a mobility scheme for disabled drivers and passengers of modified vehicles.
CCV chief executive Tim Johnson, said: “K F Garner & Co is a well established and respected local business. We see this as springboard for future acquisitions in the local area. We will be working hard with the management team to identify those opportunities as well as supporting them with the development of their specialist scheme.”
This acquisition moves CCV’s total GWP to in excess of £240m and is its 37th acquisition in 2 and a half years.
Kevin Garner, managing director of K F Garner & Co, added: “The CCV philosophy fits well with our own of offering a high quality and professional broking service. When looking at the future options for the business, the needs of our staff and customers, were of course, paramount. CCV was ideal for all parties and importantly will support the continued development of the company.”
CCV’s executive chairman, Peter Cullum welcomed CCV’s latest acquisition. He said: “K F Garner & Co is another business that fits the CCV model – a well established, quality business, with a unique offering in it’s mobility scheme.
"Regardless of the current economic climate, CCV’s strategy of acquiring and investing in good quality regional brokers continues with a number of deals undergoing due diligence and many others in our sights over the coming months. CCV is still well placed to continue its growth based on a profitable business model coupled with access to acquisition funding.”