FMW to join Cook Sheppard Pinhey in new regional division
Oval has made its second of four planned buys with the acquisition of insurance broker FMW.
It follows the recent purchase of Ipswich-based Cook Sheppard Pinhey.
Formed in 2000, FMW has an annual GWP of about £25m and more than 60 staff. It provides services for business sectors including logistics and transportation, construction and house building, property owners and general commercial and media.
Peter Blanc, managing director of FMW, will become regional managing director of Oval’s eastern region. Both Blanc and Peter Bradbeer of Cook Sheppard Pinhey will continue to head up their respective offices.
Blanc said: “The acquisition of FMW and Cook Sheppard Pinhey marks the creation of a new eastern region for Oval. Working with Cook Sheppard Pinhey will mean we can now bring together our expertise and areas of specialism, providing an even wider ranging service to our clients.”
Jeff Herdman, group managing director of Oval, said: “We are delighted FMW has joined the group. The company has an exceptional team of advisers and staff who have a strong understanding of their client’s
businesses. This alongside the acquisition of Cook Sheppard Pinhey continues our strategy to work with the most well respected brokers and drive business across the region.”
Since its creation in 2003, Oval has made a total of 26 acquisitions. In November Oval upped its acquisition war chest by £15m to £68m. It plans to raise an additional £50m this year.