Private equity firm Inflexion has backed the simultaneous buyout and immediate merger of Bollington Insurance Brokers and Wilsons Insurance Brokers.
The new structure, called Bollington Wilson Group, will generate annual gross written premiums of more than £120 million.
The two insurance brokers both focus on niche products across the UK and operate complementary product lines in commercial and personal insurance.
The merged group will focus on expanding in the UK through scaling up existing activities and by making add-on acquisitions through a buy and build programme supported by Inflexion. The businesses will continue to trade under their independent brands in order to capitalise on their heritage and strong reputations.
Simon Turner, Managing Partner of Inflexion, said, “We are delighted to complete the double buyout and immediate merger of Bollington and Wilsons. Our team spotted this compelling merger opportunity and navigated through a complex transaction process. Leading discussions with the ambitious management team of each business, we shared a vision for accelerated growth under this new structure. We welcome Bollington Wilson Group into Inflexion’s portfolio and look forward to working in partnership.”
Paul Moors, CEO of Bollington Wilson Group, said, “We believe this creates more choice and more flexibility for all of our valued customers. With Inflexion’s track record in integration and acquisitive growth we are truly excited about the future of our new group. Their support will help Bollington Wilson Group expand across the UK and develop further product lines. We look forward to an ambitious partnership together.”
John Wilson, Chairman of Bollington Wilson Group, added, “There are many opportunities across commercial and personal insurance broking that can be enhanced by increased scale. The merger of Bollington and Wilsons creates a compelling platform from which to realise those opportunities. Meeting Inflexion has been transformational for our businesses and we look forward to the next stage of growth.”