Published 30 August 2017
UK private health Insurance broker Chase Templeton has completed five acquisitions taht include a mix of consultant, broker and independent financial adviser (IFA) books.
All the transactions were made within three weeks time period after its acquisition by Ardonagh Group and together have generated approximately £6.3m in annual premium income (API).
Since 2013, the company has made more than 80 acquisitions as a part of its buy and build strategy raising its API from £90m to around £150m.
Templeton mentioned that its employee force has been almost doubled with more than 120 workers at its headquarters in Darwen, Lancashire and offices in Bridgwater, Somerset.
Chase Templeton mergers & acquisition director Jeff Tate said: “We have a proven formula which we have finessed over the years in order to secure maximum value from acquisitions.
“Now, as part of a wider and exceptionally well-resourced group we are perfectly placed to execute further and bigger deals.”
Adding on Tate said that the firm is planning for two or more acquisitions in the next six months period.
Templeton claims that the acquisition of Feast Noble, a private medical insurance book was the highest deal which made nearly £2m in API.
Established in 2002, Chase Templeton was acquired by Palatine Private Equity in 2013. In June, 2017 Palatine has sold Templeton to Nevada Investments, the US investment vehicle set up by HPS Investment Partners and Madison Dearborn Partners.
Nevada owns the majority of shares in Autonet, Broker Network and Price Forbes.
Image: Templeton completes five acquisitions. Photo: Courtesy of adamr at FreeDigitalPhotos.net