The Jensten Group has today acquired specialist commercial broker Basil Fry & Company for an undisclosed amount. The latest deal, which is subject to regulatory approval, will bring an additional £25m GWP, 41 staff and over 2000 clients to the Jensten Group and is the second specialist, sector-focused broker acquisition to be announced in the last seven days.
Established over 50 years ago, Surrey-based Basil Fry is the market leader in providing insurance solutions to the UK’s removals, storage and self-storage sectors. Well known throughout these sectors, and the insurance industry due to their expertise and established cross-class schemes, Basil Fry is the broker of choice for a number of the associated industry organisations.
Managing Director Greg Wildman will continue to lead the business, reporting to Jensten Retail Managing Director Rob Organ. The business is well positioned to grow further in the UK and Europe and will benefit from Jensten Group’s proven capability to acquire, invest in, and grow sector-focused ‘practices’ having several market leading specialisms already within the Group.
This is the seventh acquisition announced by Jensten since August and follows the announcement last week that saw the Group acquire specialist motor trade broker Bellegrove.
Greg Wildman, MD Basil Fry said: “Jensten focussed on the two most important areas of our business right from the beginning – our clients and our staff. We had various opportunities to consider elsewhere but it was clear that our shared ethos would make this transition a success. After significant sustained growth for many years, we needed to find a powerful partner to develop our service offering both in the UK and in Europe and we are very excited about the opportunities that Jensten will provide to us.”
Alistair Hardie, Group CEO Jensten Group commented: “Basil Fry is the market leader in its chosen sectors and another top-quality brokerage that has chosen Jensten as its acquisition partner. I look forward to welcoming a further 41 talented colleagues to the Jensten family. As we continue to build the business through acquisition, with further announcements to follow soon, Jensten’s ability to continually attract established, entrepreneurial brokers to Jensten stands testimony to its culture – putting people and clients first. It also shows that for broking businesses considering their future, who are aligned to the Group’s culture, Jensten has quickly become the go-to choice for founders and principals who are keen to continue to grow their business, deliver for their clients, develop their staff and protect their legacy.”