Broker begins acquiring after summer break
See also: Ovals 115m refinance
Oval has acquired Powell Insurance Brokers based in Liverpool and Williams Insurance Brokers based in Wrexham, North Wales. The moves mark Oval’s first acquisition in Wales, and strengthens its position in the North West.
The move into Liverpool in particular creates the fulcrum for further expansion in this important area of the country.
Powell has a team of 40 people with turnover of £3.4 million and GWP of £16 million. The company has been established for over 25 years, with a strong focus on mid-corporate and corporate clients.
With specialisms in construction, poultry and food & beverage, the acquisition adds strong expertise to the Oval Group.
Managing Director, Eliot Powell, will continue to run the Oval office in Liverpool.
Williams Insurance Brokers is a local family-owned company established for over 35 years, offering commercial insurance products to a wide range of business sectors including transport, motor trade, food and retail with a core business focus in the construction and engineering sector.
It has GWP of £4m and a team of 10 staff.
Company Director, Sandra Humphreys, will continue to run the Oval office in Wrexham.
Powell said: “We are very pleased with the decision to join Oval and see the two companies as having very closely aligned values. This will enable us to deliver the same high level of service to our clients, and give us the strength and resources of a larger company”.
Humphreys: “We are delighted to be a part of Oval’s first step into North Wales. I am truly excited at becoming part of the Oval group and believe that it will result in real benefits for our clients in the form of security and an even wider range of services and expertise”.
Jeff Herdman, group managing director of Oval said: “Both Powell and Williams are highly respected brokerages, having developed strong, long-standing relationships with their clients. This made both companies a natural choice to bring into the group. We are very pleased to have both teams join Oval.”