UK-based insurance company Ethos Broking has acquired Perry Appleton, a member of Compass Network, to expand its footprint in the Midlands.
The financial details of the transactions have not been made public.
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Founded 20 years ago, Perry Appleton has 14 employees and controls more than £7m in gross written premiums (GWP) from its single office.
Under the terms of the deal, Perry’s staff will become part of Ethos Broking but will continue to operate from their existing office in Rugby.
Perry specialises in professional indemnity, commercial combined, property owners, motor fleet and high-risk liability.
Perry Appleton managing director Simon Leech said: “Becoming part of Ethos Broking will be of great benefit to our staff and clients.
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By GlobalData“It was the natural home for us as it will allow us to focus on building our presence in the local community whilst at the same time offering our customers all the advantages of being part of the Ethos family.”
Commenting on the deal, Ethos Broking managing director Richard Tuplin said: “The Midlands has been an area of focus for us for a while now and from the first meeting I had with Simon, it was clear that the Perry Appleton team share the same passion as we do for supporting customers.
“Perry Appleton will play an important part in our strategy as we continue to grow our regional powerhouses across the UK and expand our presence throughout the Midlands.”
Including Perry Appleton, Ethos Broking now has 11 regional centres and 20 satellite brokerages.
