Nottinghamshire broker on 10-year growth path.
Cooke and Mason, the Nottinghamshire broker, has set a 10-year growth target of £100m in gross written premiums after completing the acquisition of Stephenson Insurance Services.
Stephenson, based in Lincoln, controls £4.5m of premiums and is Cooke and Mason’s first acquisition.
Steve Grantham, Cooke and Mason’s managing director, said the deal would not be the last. “We are very keen to grow the business. We recognise that we need to have an open mind to making a series of acquisitions and we have quite a serious growth target for the next 10 years.”
The business could make up to five acquisitions, he added.
The deal pushes the business, which is part of the Brokerbility group, close to £25m GWP.
Grantham said the business would target brokers in Nottingham, Lincoln, Derby and South Yorkshire but would not look to pay more than the £4.5m spent acquiring Stephenson.
Alan Brinklow, managing director of Stephenson, will remain with the business in a consulting role and is set to be replaced by Cooke and Mason’s David Charles. Ian Lewis will become director and general manager. The business has 15 staff and will continue to operate from its Lincoln office.