CCV expands into Scotland with Moray Firth acquisition
Cullum Capital Ventures (CCV) has made its first acquisition in Scotland.
The consolidator has expanded into the region with the purchase of Moray Firth Insurance Brokers, which has offices in Inverness and Elgin.
Moray Firth has developed a strong presence in local business sectors and boasts GWP of £3.5 million.
The transaction will increase CCV’s total GWP to around £240 million and the group’s chief executive, Tim Johnson, says he is on the lookout for further acquisitions across Scotland.
With regard to the broader picture, executive chairman Peter Cullum has confirmed that a number of other significant deals are already undergoing due diligence or will be in sight over the coming months.
CCV employs over 650 staff, taking its place among the UK’s five leading independently owned insurance intermediaries.
The firm focuses on investing in regional brokers providing a wide range of specialist and non-specialist general insurance products.
Since its establishment in 2006, CCV has completed over 30 acquisitions.
Category: Companies News, Insurance News
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