Jelf Group has acquired Shropshire based insurance brokers Hern Waters and Co.
Jelf said the deal has been structured in line with market practice with an initial consideration and performance related deferred consideration payable over a two-year earn out period.
The company said the Hern Waters office, in Ludlow, will be retained, and takes the number of company offices to a total of 18.
Alex Alway, group chief executive of Jelf Group, said: “At the core of our growth strategy is the acquisition of businesses that are both culturally and commercially aligned with the Jelf Group.
"Hern Waters enjoys an excellent reputation throughout Shropshire and Mid-Wales and we are delighted to welcome the new team and its customers to Jelf.”
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