Seventeen Group has announced its acquisition of Gen2 Group.
Helmed by Jon Nottingham, Paul Masters, and Paul Dudley, Gen2 oversees £5 million in gross written premium, primarily for corporate clients in the Midlands and surrounding areas.
Paul Anscombe (pictured), chief executive of Seventeen Group, lifted the lid on the deal by saying: “Seventeen Group has known Jon Nottingham for many years and sees Gen2 as a very natural fit.
“We will be building our presence in the Midlands in the years ahead using Gen2 to create a central ‘hub’. The business will be rebranding to James Hallam in due course.”
Sharing his thoughts on the acquisition, Nottingham stated: “Building a business over the past six years has been uniquely challenging, but we remain committed to genuine independent broking and, as such, Seventeen Group is a perfect fit for us culturally, and somewhere we will enjoy being part of.
“Knowing Paul and the team for so many years naturally makes this a much easier transition.”
The transaction, financial terms of which were not disclosed, comes on the heels of Seventeen Group’s swoop for East Pennine Insurance Consultants (EPIC) in June.
“I am pleased to welcome the EPIC team,” Anscombe said at the time. “This is our first acquisition in Yorkshire and so represents a huge opportunity to build our presence going forward.
“We have achieved significant success in developing other regional businesses across the UK, and EPIC creates additional value through its extensive motor trade knowledge and experience.”
Last month, Seventeen Group also snapped up general broker Wisemans Insurance Services and Manchester-based North West Risk Solutions.
“We are delighted to welcome our new colleagues into the group,” the CEO commented then. “This has not only extended our regional footprint but brought some great talent into our business.”
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