Springboard Insures Double Acquisition Success for Jensten
April, 2021 - England
Springboard is delighted to announce that it has advised Jensten Group, a leading UK broking and insurance group, on two acquisitions over the last month. The first involved specialist mid-market commercial broker Sydney Packett & Sons (“Packetts”) of Shipley, Yorkshire. This was closely followed by the acquisition of Advanced Insurance Agencies (‘Advance’) based in Wiltshire. Both deals are part of Jensten’s ambitious buy and build growth strategy focused on expanding its specialist capability.
Packetts, which is a Chartered Broker, specialises in the commercial, not-for-profit, and training sectors, and presently handles £13m gross written premium (GWP). The community broker celebrated its centenary in 2020 and is headed by Marshall Sugden, who will remain as Managing Director and lead the further expansion of the business under Jensten’s ownership. The broker will retain the Packetts and Trainsure brands.
Advance presently handles £16m GWP and employs 82 staff. In addition to commercial lines activity, Advance brings Jensen expertise in sourcing specialist motor product solutions for niche customers, working with price comparison websites and online and offline lead generation. Advance will form a centre of excellence within the Jensten Group and will be led by its current Business Development Manager Matt Jones who will become Managing Director.
Client on Springboard
"Springboard has become an integral part of our M&A team over the last year, their pragmatic support and advice covers all elements of the process. They are thoughtful, engaged and always accessible. Their commitment to delivering for us is excellent.”
Ed Hannan - Group CFO, Jensten Group
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Jensten currently controls around £245m GWP and has a publicly stated ambition to reach £500m within the next three to five years.
Springboard has now advised Jensten on four acquisitions in the last in eight months. These latest deals follow on from those of Derbyshire-based professional indemnity specialist HTC Associates and Lloyd’s and London market wholesale broker Senior Wright last summer.
Jensten was advised by Springboard Partner Simon Ward, Director James Bailey and Assistant Director Jamie Berry. James commented “we are delighted to have continued to support Jensten on two great acquisitions. The pipeline of opportunities at various stages is strong and Ed and his team have demonstrated that they can really deliver.”
