Latest acquisitions bring CCV £4m extra premium
Cullum Capital Ventures (CCV) has completed the double acquisition of Goodwood Insurance Services and Standrings.
Sussex-based Goodwood Insurance Services specialises in taxi and chauffeur insurance, and the deal with CCV will allow director Stephen Barrett to retire while fellow founding director Nigel Martin stays on to run the business.
Standrings is a family-run insurance broker and financial services business based in Bolton. CCV is acquiring the general insurance business from Standrings, while its financial services arm will continue to run independently. The team, including joint owner and director of the business Andrew Bowden, will join Ainsbury, a CCV business based in Swinton in Manchester.
The two acquisitions will add an additional £4m of premium to CCV, which has now completed 11 acquisitions this year.
Michael Rea, chief executive of CCV, said: "We’re delighted by these two latest acquisitions which keep us on track to control £300m of premium by the end of the year. Both deals illustrate how CCV can meet vendors’ varying requirements and help businesses with succession and forward planning."