’We knew instinctively it was a very good match,’ says Castleacre director
Private client insurance broker Castleacre has acquired Merritt Insurance Services in a deal it said was completed at an “ideal time”.
A statement said the acquisition, announced this week (22 March 2023), would see Castleacre provide “enhanced benefits” for Merritt clients.
Castleacre director Guy Everington said the move came after the company grew its team to accomodate an expanding number of clients over the last 10 years.
“Now is an ideal time to acquire a broker business that shares a similar ethos to us,” he said.
“Merritt Insurance have attained an excellent standing since they set up over a decade ago.
”When the opportunity arose to acquire Merritt, we knew instinctively it was a very good match for us because we both understand the importance of client led service.”
‘Smooth transition’
Both Castleacre and Merritt are independent insurance brokers and have offices across the UK.
Read: Daimler Truck Financial Services inks new deal with Marsh
Read: Gallagher Re buys Lloyd’s broker to ‘deepen’ delegated authority expertise
Explore more M&A-related content here or discover other news stories here
Jonathan Merritt, former director of Merritt, will work alongside the Castleacre team over the next two years as client policies are transferred over.
He said: “We know Castleacre Insurance well by reputation and both Merritt and Castleacre focus on strong client relationships.
”We are confident that our clients will be well looked after by Castleacre and I am looking forward to working with their team over the next two years to ensure a smooth transition.”
No comments yet