The Broker Investment Group takes minority stake in Bedford broker
The Broker Investment Group has taken a 49% stake in Mayfair Insurance & Mortgage Consultants.
It is the first direct investment of 2023 for the group, with previous deals this year involving increases in existing equity stakes.
As previously revealed by Insurance Age, Peter Cullum-backed The Broker Investment Group rebranded from Ataraxia and Minority Venture Partners in January.
This alliance will help facilitate growth, attract new clients, retain our loyal customer base and develop our staff even further.
Guy Moliterno
Founded in 1979, Mayfair has £4m of gross written premium across personal and commercial insurance, specialising in high-net-worth cover, including supercars and prestige vehicles. It services clients across the country from its base in Bedford.
Mayfair’s owner and managing director Guy Moliterno will continue in control of the business, and the brand, premises and eight staff will all remain with the firm, the investors have confirmed.
Momentum
Dave Clapp, CEO of The Broker Investment Group, commented: “We are delighted to continue our momentum of acquisitions in 2023. Mayfair Insurance & Mortgage Consultants are an excellent fit for us, and the owner Guy has created an impressive business.
“Together, we plan to create and implement a sales and marketing growth strategy, underpinned with the special schemes Mayfair enjoy and further ones we can bring to the table.”
According to Clapp, the group is “currently having lots of positive discussions” and expects to strike more deals this year.
Drive
Moliterno added: “My team and I have plenty of drive and enthusiasm to take Mayfair Insurance forward, and this alliance will help facilitate growth, attract new clients, retain our loyal customer base and develop our staff even further.”
Since the rebrand, The Broker Investment Group has supported Beam Insurance to buy Redditch-based AP Insurance Brokers, while The Needham Group has bought PJ Insurance Brokers.
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