Verlingue’s acquisition of ICB Group triples its size in the UK market
French firm Verlingue has tripled its size on the UK market with the acquisition of ICB Group.
Verlingue already owned Manchester-based Finch, and this deal takes the group’s premiums up to £130m, 170 employees and five locations.
In a statement Verlingue revealed the intention was for ICB Group and Finch to “work collaboratively”.
Jacques Verlingue chairman of Verlingue and the Adelaide Group, said: “Verlingue has the ambition of being a leading family owned independent broker in the UK and the combination of ICB and Finch will create a great platform from which to build.
“ICB is one of the leading independent brokers in the UK with a similar ethos to Verlingue.
“We see the potential to amalgamate the entrepreneurial spirit and talents of ICB and Finch as a great opportunity for both teams, their clients and their partners.”
The acquisition is also expected to provide ICB Group and its clients with a gateway to Europe and, more broadly, worldwide opportunities through its network of independent brokers WBN.
Neil Campling chief executive of ICB Group added: “Since the buyout from IAG in 2012, ICB Group has continued to expand and develop into one of the most successful and leading brokers in the UK.
“Our client base has also expanded and developed both in terms of size, but also in the demands and level of sophistication they require.
“ICB has taken the sensible view that we have to continue to evolve in order to remain relevant to our clients.
“As they have expanded, many of our larger clients now have an international dynamic to their business and so we need to ensure we are in a position to be able to service them appropriately.
“As part of this we believe it is essential that we can continue to trade effectively across the EU post Brexit.
“Joining Verlingue helps ICB meet these various needs and puts our business in what we believe is the right position for the future.”
And Finch managing director Mike Latham said he was looking forward to working with ICB Group.
He said: “We are delighted to welcome ICB Group to the Verlingue family.
“We see the skills, location and breadth of services that ICB offer to be hugely complimentary to that of Finch.
“The greater scale which the ICB team will bring will enable us to collectively forge a company that will be a leading player in the UK independent broker market.”
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