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Daily Insurance Industry News
Monday 20th of May 2019
December 3, 2007

Oval And Tett Hamilton Agree Terms On Acquisition

by Stewart Douglas

Story link: Oval And Tett Hamilton Agree Terms On Acquisition

Expanding insurance group Oval has today announced it has secured its landmark 25th acquisition by reaching terms with broker and financial services consultancy firm Tett Hamilton, in a move designed to expand the group’s reach within the South West of England.

The company, which has seen rampant growth through the acquisitions of some 25 other insurance brokers, providers and professional services companies has announced that it has reached agreement with the board of directors of the Bristol-based company, and will be moving to complete the acquisition of the company over the next few weeks.

The move, thought to be worth £2.6 million, will see Oval acquire the business and assets of Tett Hamilton, although it will continue to trade under its same branding as a result of strong existing client relationships and a good foothold in the market at present.

Along this vein, Andrew Tett of Tett Hamilton will stay on at the head of the division within Oval, to help promote further growth and see through the integration strategy, along with the 45 present Tett Hamilton staff.

Nic Hamblin from Oval today said that the acquisition of Tett Hamilton would undoubtedly enhance their business, particularly within the South West region which it had previously identified as an area for regional growth.

Speaking today on the acquisition, Andrew Tett formerly of Tett Hamilton expressed his delight at agreeing terms with Oval. “Tett Hamilton prides itself on providing high quality, professional advice and strong client care and chose to accept Oval’s offer because Oval clearly shares these values.”

“The insurance and financial market is changing and being part of the Oval group will provide security for clients and staff while allowing us to keep to the same values and standards we have always maintained”

 

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