Deal should conclude this month
R K Harrison is set to buy high net worth broker Mercury West Associates.
The deal should finish this month subject to FSA approval.
After the deal is completed, the Mercury West business will remain as a brand within R K Harrison.
Current Mercury West managing director Katie Small will continue to head up the business and will also join the management team of R K Harrison Insurance Services, the UK retail arm of the R K Harrison Group.
Mercury West recently opened its second office, in the north west. Mercury West’s Hatfield office will be closed after the deal, and the staff will move to R K Harrison’s nearby Bedford office. No redundancies will take place as part of the deal.
R K Harrison already offers insurance for country landowners, fine art portfolios, farms and estates.
Mercury West has a niche in high performance motor, and has partnerships with groups such as the Professional Footballers’ Association.
Mercury West and R K Harrison would not add any further comment until the deal is finished.