H&R Insurance Services has acquired APL Insurance Services, the insurance division of Aberdeen Property Leasing Ltd.
The deal, which concluded at the end of 2019, will see the transfer of all APL Insurance Services’ clients to H&R Insurance.
Partner Shona Robertson said the acquisition is a “strategic fit for H&R Insurance”.
Robertson added: “The acquisition of APL Insurance Services is a unique opportunity which unlocks growth potential for H&R Insurance. The two businesses have a lot in common and share the same core values, with customers and personal service at the heart of both companies.
“The deal enhances our position in the North-East of Scotland and demonstrates our commitment to our customers in that market.”
Bruce Kelly, who worked exclusively in the insurance division at APL Insurance Services, will join H&R Insurance this month. Kelly has worked in the insurance industry for over 30 years and brings with him “strong client connections and a wealth of experience”.
He joins Neil Melvin, who joined the company in May as an account executive, and Frank Adams, who recently joined the commercial account handling team.
Alan Pirie, director of Aberdeen Property Leasing, said the acquisition “brings together two of Aberdeen’s most respected local brands and highlights the importance of personal service in the local market”.
He added: “Without Aberdeen’s phenomenal support of local independent businesses, H&R Insurance Services and Aberdeen Property Leasing wouldn’t be where they are today.
“It’s clear that clients still appreciate the personal local touch, and we’re delighted to be able to deliver this.”
The purchase wrapped up a successful year for H&R Insurance, which posted 20% growth in 2019, despite “difficult trading conditions” in the north-east.