The acquired business ’has a highly impressive brand reputation and deep expertise in the caravan and leisure markets’, says co-founder
Noble Insurance Group has acquired specialist intermediary Caravanwise following a £5m loan from digital bank OakNorth to support its ongoing buy and build strategy.
Based in Christchurch, Dorset, Caravanwise specialises in cover for touring and static caravans, trailer tents, folding campers, park homes, motorhomes, campervans and horseboxes.
Noble, which was founded in 2019 following the management buy-in of marine insurance broker Noble Marine, said the deal would expand its footprint in the camping and leisure insurance sector.
Henry Arundel, co-founder and managing director at Noble, said: “Caravanwise is an excellent addition to our portfolio. It has a highly impressive brand reputation, loyal customer bases and deep expertise in the caravan and leisure markets.”
Portfolio so far
The funding from OakNorth will also support further acquisitions under Noble’s buy and build strategy.
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The group’s current portfolio includes brands such as CBI, Graham Sykes, New Moon and WG Yachts, which provide specialist cover for a range of insurance needs.
Dale Cowdell, director of debt finance at OakNorth, said: “Noble has built a robust, high-margin platform in a highly specialised part of the insurance market.
“With a proven buy-and-build strategy and strong insurer partnerships, coupled with the growth in revenues that the insurance agent and broker market is set to deliver over the next five years, the business is well-positioned for continued sustainable growth.”
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