Xenia Broking Group (Xenia), credit insurance and surety specialist, has announced it has entered into an agreement to acquire the trade credit business of Status Credit Insurance Brokers Limited (Status) for an undisclosed sum.
The transaction will be completed in April 2021, following which Xenia will integrate Status’s trade credit business with its regulated entity Credit Risk Solutions Limited.
Commenting on the acquisition, Tim Coles, CEO of Xenia, said: “The fact that a business of the quality of Status has agreed that Xenia is the right home for its clients is supportive of our strategy to build a leading trade credit broking business, one focused on delivering outstanding outcomes for our growing client base.
“We are delighted to welcome Lance and his team into the group and very much look forward to, together, exceeding our clients’ expectations for service and results.”
Lance Attwell, founder of Status, added: “Xenia is a natural home for Status. We have common values and a shared passion for service and the success of our clients. Xenia is an ambitious company with challenging yet achievable plans, plans which are founded on delivering world class outcomes and outstanding customer service.”