Chase Templeton secures fourth deal of 2015
Chase Templeton has acquired Bushey-based intermediary Best Go Private in a deal which brings a further £3.1m in annual premium income to the fast-growing consolidator.The acquisition is the fourth to be completed by the Lancashire headquartered private medical insurance specialist this year following its purchases of Medins Group, Get Private and Medical Insurance Advisors. In total the deals have brought some £12.4m of predominantly SME generated API to the business.
Best Go Private was founded in 2010 by former Association of Medical Insurers & Intermediaries Association (AMII) treasurer, Graeme Godfrey and his wife Lucy. The firm’s client’s base includes nearly 250 SMEs and 550 individual policyholders.Graeme, who has over 25 years financial services experience and has worked in the PMI sector since 1997, said the sale allowed for full realisation of assets whilst protecting client interests.
“I was naturally keen to secure a good and fair financial return but I was equally concerned to ensure that our clients would continue to be well looked after. I was impressed with Chase Templeton’s record in the acquisition and integration of businesses like ours,that they understand they are buying goodwill and that, therefore, if they don’t deliver on service then they’ve bought fresh air.”Best Go Private’s corporate clients will be served from Chase Templeton’s SME Centre of Excellence based at headquarters in Darwen. Individual client accounts will be administered by the equivalent Individuals centre at the company’s offices in Bridgwater, Somerset.
Commenting on the latest acquisition Chase Templeton’s mergers and acquisitions director, Jeff Tate, said: “Graeme is particularly well known and respected in the industry, not least for his active participation on the AMII executive committee. In Best Go Private he built and led an exceptional, service led company which offers an excellent fit with our own business model.”Chase Templeton is now regarded as the leading consolidator in the PMI sector. Since securing backing in 2013 from Manchester-based Palatine Private Equity it has invested over £18m in purchasing brokers, books and IFAs. In that time it has sealed more than 40 deals as it pursues a highly successful ‘buy and build’ strategy with the enlarged business now protecting over 110,000 lives. Founded in 2002 the company now employs nearly 80 staff who serve in excess of 35,000 corporate and individual clients.