Five acquisitions in three weeks for Chase Templeton

Chase Templeton has completed five acquisitions, adding nearly £6.3m in annual premium income, since being purchased itself by the newly formed Ardonagh Group.

The largest of the transactions was the acquisition of St Albans based IFA Feast Noble and Co’s private medical insurance book. This alone brought in some £2m in API.

“We have a proven formula which we have finessed over the years in order to secure maximum value from acquisitions,” said Chase Templeton’s mergers and acquisition director, Jeff Tate. “Now, as part of a wider and exceptionally well-resourced group we are perfectly placed to execute further and bigger deals.”

The broker has grown fast in recent years. Since 2013 it has completed over 80 acquisitions and increased API by some 70 percent, from £90m to around £150m.

Acquisitive expansion has been complemented by solid organic growth, aided by an impressive near 90 percent retention rate. Founded in 2002, Chase Templeton secured the backing of Palatine Private Equity in 2013. Palatine subsequently realised its investment by selling its stake to HPS and Madison Dearborn backed Nevada Investments at the end of June. Nevada was subsequently folded into the Ardonagh Group which is also home to Autonet, Price Forbes, Ryan Direct and Towergate.