International brokerage Alexander Forbes has secured a 20% stake in National Britannia, a leading environmental risk management consultancy, for £8m.
The deal is the third firm Alexander Forbes has brought under its wing this year. It follows the broker's successful acquisition of employee benefit provider Johnstone Douglas and the retail broking operations of the Bradstock Group.
Alexander Forbes recently secured £100m of funds to finance further expansion plans. Alexander Forbes Risk Services chairman and chief executive John Percy-Davis said additional acquisitions are possible.
He said he hoped the broker's stake in Cearphilly-based National Britannia will lead to a strategic alliance between the two companies.
“This deal enables both companies to provide existing and prospective clients with strategic solutions over a wider spectrum of risk utilising the companies' combined information database and technical expertise.”
National Britannia's 580 staff provide health and safety and environmental advice using internet technology to more than 6,000 clients on 12,000 different sites.
Alex Sleeth, National Britannia managing director, said: “Our companies are committed to growth and we concur on the need to develop and harness the power of interactive technology.”