Cullum acquisition vehicle buys four brokers

Cullum Capital Ventures (CCV) has completed a quartet of acquisitions.

The group has acquired Ainsbury Insurance Brokers, C J Russell, Centurian Insurance Associates, and Knights Insurance and Investment.

The deal with Ainsbury has been agreed under CCV's partial ownership scheme with CCV acquiring 85% of the business. Managing director Guido van den Berg remains in place to lead the company in its next stage of growth. Ainsbury operates from bases in Manchester and Edinburgh where it employs a total of 23 people.

Three brokers seeking to achieve their own particular exit strategies have opted to become part of existing CCV businesses.

Joining Hertfordshire based Moffatt Saunders, are local brokers Centurian and Knights. Centurian was established in 1990 by partners Eric Brown and Graham Collins both of whom are joining Moffatt Saunders. Knights is a general insurance business with a HNW book and a barristers' office scheme.

Incorporated into CCV's Arthur Marsh & Son in Uxbridge is CJ Russell, a business established in 1962 by Colin Russell. Russell's two sons, Neil and Martin have moved across to Arthur Marsh.

CCV's new chief executive Michael Rea said: "These deals take CCV's total number of acquisitions this year into double figures. Despite the economic uncertainty, we have had a busy summer on the acquisition front, and with good access to capital and a strong pipeline of opportunities, we're looking forward to the next 12 months."