It is the independent broker’s second acquisition this year
The Bollington Wilson Group has completed its acquisition of Harrogate-based insurance broker Prophet Trade Credit Limited.
Prophet have been trading since 2001, specialising in trade credit insurance, debt recovery and credit information. The deal adds six staff and over £4m GWP to the stable of companies now under Bollington Wilson ownership.
The latest news follows Bollington Wilson’s purchase of North-West based commercial broker Ashgrove Insurance Services.
And it expects further acquisitions this year.
Significant deal
Paul Moors, chief executive of Bollington Wilson, said: “This is a significant deal for our group as we expand the range of services available to our clients. Our strategy is to add complementary businesses to our group. Prophet is a perfect fit.
“Adding Prophet to the Bollington portfolio gives our corporate clients access to the trade credit insurance market and specialist advice on the full range of options when considering how best to manage their trade credit risks. It complements the existing products and services we offer to businesses of all sizes.
David Encell, managing director at Prophet Group, said the acquistion is “great news” for its clients.
“We benefit from joining one of the largest independent insurance brokers in the UK, providing our clients with access to a wider range of products and services. We know that Prophet has a bright future as part of Bollington,” he said.
Moors welcomed Encell and the Prophet team to the group.
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