Broker Network has been on an acquisition spree over the last 18months – but despite already snapping up the likes of Saffron Insurance, Weald Insurance and Boyd Insurance, its latest deal marks a first for the business.
The network has entered new ground by snapping up a regional powerhouse in the North of England in the form of Manchester-based MCM Insurance.
Established back in 1977, MCM, which is led by managing director Allan Broomhead, controls more than £22 million in GWP and employs more than 50 people while operating from three locations in Manchester, Derry and Birmingham. The deal will see the business continue its operations from its current offices while retaining its management team.
“We’re excited to begin the next chapter in MCM’s journey and fulfil our growth objectives,” said Broomhead. “We were one of the very first members and have a long and successful history with Broker Network. We know the team well and felt they were the ideal fit for our business. Our aim has always been to partner with someone who understands our ethos for excellent customer service within the local communities we trade in.”
For Broker Network’s chief commercial officer Des O’Connor, the new acquisition is a “fantastic business.”
“The purchase of MCM, an original and founding Broker Network member, marks our first regional powerhouse in the North of England,” he said. “Our aim is to establish a centre across every county in the UK and we’re forging ahead with that plan. We’re delighted with the performance of our existing partners and I’m sure that MCM will prove just as successful.”
MCM will continue to trade under its own brand.
