Fri, 30 Aug 2024 | BUSINESS SALE
JM Glendinning North Yorkshire, the Scarborough-based subsidiary of the JMG Group, has acquired C P Bennet Limited, a commercial and personal lines insurance brokerage based in Bridlington. C P Bennet Limited was founded in 1929 and is a well-established business in the area.
The deal marks JM Glendinning North Yorkshire’s second acquisition in recent months, following the company’s move to larger premises in Wykeham, Scarborough to accommodate its future growth.
Following the acquisition, C P Bennet Limited Managing Director Simon Benson (pictured above with JM Glendinning MD Alison Piercy) will move to JM Glendinning’s office. Benson, the son of former C P Bennet director Albert Benson, joined the company in 1986 and has been instrumental in the company’s development and growth over the past 38 years.
Benson said that the deal formed part of the company’s succession plan to facilitate “a seamless transition in the future and continuity for employees and clients.” Benson stated that the sale would “enable us to continue the growth of what my dad and our team have built over the years.”
He added: "While growing rapidly, both organically and through acquisitions, the JMG Group still retains its family-run feel and its client-first ethos. I'm looking forward to being part of the group and seizing the opportunities that are ahead of us."
Alison Piercy, Managing Director of JM Glendinning North Yorkshire, commented: "We've been looking for that perfect addition to our business; one which shares our own operational and cultural values, and one we feel delivers quality customer support. I believe C P Bennet is a great fit and matches who we are and what we do and I'm excited to bring them onboard."
Find out more about M&A trends shaping dealmaking in the UK insurance sector
When preparing a business for a sale, decentralising the owner is one of the most vital steps
This is a rare opportunity to acquire a well-established firm of solicitors, known for its substantial private client base and comprehensive range of legal services.
An established Northern Ireland IFA presents a unique opportunity with £500k in recurring revenue and an average client value exceeding £350k, offering a portfolio of highly profitable clients.
This is a prime opportunity to acquire a well-established Scottish IFA with a substantial £100m FUM, complete with advisers, support staff, and a fully operational office.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.