Marsh expands Scottish footprint with first acquisition in 18 months
Marsh-owned Jelf has acquired Scottish broker Clark Thomson, following rumours last week that it was back on the acquisition trail.
The move is Marsh’s first acquisitions in 18 months, following its purchase of Bluefin in November 2016.
Subject to regulatory approval, Jelf will combine its current Scottish business with Clark Thomson.
Clark Thomson managing director Ben Bailey will head up the business in Scotland, with a team from both firms behind him.
Phil Barton, chief executive of Jelf, said: “This is a highly significant transaction that underlines Jelf’s commitment to building the leading community based advisory business across the whole of the UK. Through the acquisition of Clark Thomson, we are significantly broadening our geographic reach whilst also building on our capabilities in sectors that are vital to the Scottish economy, such as agriculture, food and drink, retail, and hospitality and leisure.
“The transaction brings together two leading community brokers with well-established offices in complementary locations across Scotland. The combined business will offer clients a compelling proposition across a wide range of insurance, risk management and employee benefits services and solutions.”
Bailey added: “This deal is great news for our clients and colleagues alike. Through Jelf, our clients will have access to a wider range of services and solutions, while colleagues will benefit from being part of Marsh’s wider global network. I look forward to bringing Jelf and Clark Thomson’s operations together, and building the leading advisory business in Scotland.”