Whitehead Monckton’s corporate team has revealed its role in advising longstanding client Seventeen Group Limited on the acquisition of Kestrel Insurance Services Limited, as the insurance broker continues its growth strategy and enters the Isle of Man.
Kestrel Insurance Services is one of the Isle of Man’s premium insurance brokers with five offices island wide providing a vast portfolio of insurance products to individuals and businesses.
The acquisition complements Seventeen Group’s existing offering, entering into a new geographical market and comes off the back of a reported 19% increase in overall group income to £37.2 million in 2022.
Group chief executive Paul Anscombe described himself as “very pleased” with Seventeen Group’s continuous progress commenting “Our successful strategy of acquiring complimentary, entrepreneurial businesses has continued in the current year with Aim Insurance Services, Mint Insurance Brokers, McGregor Insurance Services, and Kestrel Insurance all joining the group and further acquisitions expected to complete in the coming months. Our brand, culture, and scale continue to attract the highest quality of talent through both acquisition and key staff hires.”
Whitehead Monckton’s team was led by Head of Corporate, Daniel Tozer, who has a longstanding relationship with Seventeen Group. Speaking of the acquisitions, Tozer said, “It is great to get another successful acquisition over the line and an entry into a new geographical market which will builds on Seventeen Group’s existing offering and builds value as part of its strategic acquisition strategy”.
Tozer was assisted by his wider cross specialism deal team comprised of Suzan Petrosian, Antonio Fletcher and Lydia Ashman.