Macbeth has completed its acquisition of Insurance Services Surrey (ISS), strengthening its position as a regional broker.
Financial terms of the deal were not disclosed.
The acquisition increases Macbeth’s Group GWP income to £45 million from £41 million. It also expands the team located at Reading to 73.
ISS former owners, Peter Sambrook, John Goodson and Rob Tipping, along with the wider ISS team, will remain with the business.
“We’re thrilled to welcome Peter, John, Rob and the wider team to the Macbeth family,” said chief executive officer Paul Macbeth (pictured above). “We have known John for several years, and as soon as we met Peter and Rob, we knew this was a fantastic opportunity to work together.”
He added that while Macbeth does not actively seek acquisitions, ISS presented a strong cultural and strategic fit.
“We recognised a business that, like Macbeth, puts its people first and is totally focused on providing their clients with an exceptional service…We’ll continue to consider selective acquisitions in the future if the fit’s right from both that cultural and geographical point of view,” Macbeth said.
For ISS, managing director Peter Sambrook said it was “never about selling to the highest bidder” but “finding the right fit”.
The acquisition forms part of Macbeth’s strategy to expand while maintaining its focus on client service and workplace culture.
Law firm Field Seymour Parkes advised Macbeth on the deal, with accountancy and advisory firm White Hart Associates also acting for the business.
Macbeth is an insurance broker located in Thames Valley, specializing in commercial, high net worth, cyber, life science and marine, and logistics insurance.
