Venture Preference acquires Newspace Insurance

by Gill Montia

Story link: Venture Preference acquires Newspace Insurance

Venture Preference has acquired Northampton-based Newspace Insurance Services.

Newspace specialises in the small and medium sized enterprise sector (SME), for which it has developed two bespoke schemes.

The business employs 11 staff and has around 3,000 clients.

Venture has ambitious expansion plans and its chief executive, Stuart Reid, describes Newspace as an ideal fit in terms of the firm’s acquisition strategy.

The businesses should be fully integrated by the end of the year, when Newspace will have relocated to Venture’s existing premises in Northampton.

In related news, Venture announced in September that it will rebrand as “Bluefin” from January 2009.

The move will allow the firm’s existing business names, including Smart and Cook, Layton Blackham, Stuart Alexander, The Davis Group and SBJ UK, to be united under one name.

The new brand will also include the Thinc Group companies, PIFC and SBJ Benefit Consultants, to form a financial services provider offering expertise in insurance broking, financial advice and consultancy.