Hodson heads new company Oval with millions to spend on acquisitions.
Yorkshire broker RP Hodson is the first acquisition in a plan dreamt up by former Lloyd's broker Lochie Spearman and investment bank Noble & Company to consolidate the regional broker market ahead of FSA compliance.
Hodson has been acquired by a newly-created company called Oval which will acquire brokers, aiming to be a "top 10 national broking brand in the next few years".
Oval is 34% owned by Caledonia Investments which has pledged to invest £15m in the venture.
Like Folgate Partnerships, Oval will buy brokers and allow them to trade under their brand names while the brokers' premium income will go through national deals with insurance companies.
Phillip Hodson is group chief executive and former Aon director Antony Pinsent will be chairman.
Lochie Spearman is the group's acquisitions director.
