Healthcare consultancy Atlas Consulting Group has been swallowed up by Chase Templeton.
Private medical insurance specialist Chase Templeton said it is the biggest deal under its ongoing buy and build strategy
The purchase brings in £13.8m annual premium income, driven mainly by larger SME and corporate clients.
Jon Tuer and Liz Magnall, co-founders and directors of Rochdale-based Atlas Consulting Group, are leaving to focus on their other business interests outside of insurance – but all remaining Atlas staff have joined Chase Templeton.
Jon said: “While Liz and I were keen to fully realise the value of our shareholdings in order to focus on our other business interests, we were equally keen to ensure both our staff and clients were going to be well looked after going forwards.
“We were also greatly reassured by Chase Templeton’s proven track record in successfully integrating acquired businesses.”
The deal – the fifth Blackburn-based Chase Templeton has concluded this year and the 49th since it secured the backing of Palatine Private Equity in 2013 – means the broker now generates over £125m annual premium income.
Warren Dickson, chief executive of Chase Templeton which also has offices in Bridgwater, said: “Not only is this the biggest deal we have concluded, strategically it is one of the most important.
“It will enable us to further build our business by widening our footprint into the larger SME and corporate market in which Atlas has historically been strong performer.
“This supports a wider strategic aim to be among the UK’s top five SME medical insurance brokers by the close of the year.
“Another key benefit is that thanks to the exceptional calibre of the Atlas staff who are now joining us, we are gaining further depth and breadth of expertise.”
Chase Templeton was advised by Shoosmith’s Manchester office.
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