The broker hopes to make a fourth acquisition this March
Watford-based broker Heath Crawford and Foster (HCF) has confirmed three new acquisitions, including the purchase of commercial brokers ABA Insurance Services and Bradshaw Bennett (Lancashire).
The firm has also exchanged contracts to adopt the clients and goodwill of a London broker – this is due to complete shortly.
Paul Weinberg, managing director at HCF, said: “It’s great news that these three businesses are joining the HCF family. They are an ideal fit for our existing business and share our company values, with a priority focus on looking after clients and high service standards.
“Our close insurer partnerships and in-house underwriting facility will provide additional benefits for their clients and I am looking forward to working together with the new teams to successfully grow our combined business further in 2021.”
HCF plans to continue expanding its business with further acquisitions during 2021, with a fourth deal due to complete in March.
Speaking about the acquisition, Graham Webster, managing director of ABA Insurance Services, said: “Access to improved products and service standards under our own control will provide us with an excellent platform for further growth.
“Looking after both our clients and staff was the number one priority for us when choosing to join HCF.”
Meanwhile, Geoff Ditchfield and Chris Lawson, directors at Bradshaw Bennett (Lancashire), added: “The security of being part of a larger broking group with a strong focus on local service was an important part of our decision-making process.
”We are looking forward to working with Weinberg and his team to drive the business forward and expand our product range.”
HCF is a commercial and personal lines insurance broker with a team of 18 staff.
Minority Venture Partners (MVP) will continue to work closely with Weinberg and his team following its minority investment three years ago. MVP played a key role in helping source and deliver all three of the newly-announced deals.