Jensten Group Limited announced it has acquired 100% of the share capital of Senior Wright Limited following regulatory approval.
Senior Wright is a wholesale and retail broker that places over £20m of gross written premium in the Lloyd’s and company markets. It serves clients in a variety of sectors and operates in London, Edinburgh, Leeds and Dudley.
The broker will continue to function as a standalone brand within Jensten’s Wholesale division, and all members of its team will remain in the business following completion.
Jensten said the move marks its “proven strategy of acquiring high quality, entrepreneurial businesses which have significant growth potential and are led by teams who are passionate about the clients they serve”.
Managing director of Jensten Wholesale, Simon Taylor said: “I am delighted to announce this exciting acquisition that marks an important step in the evolution of the Jensten Group and our commitment to our buy and build strategy.
“From the outset we knew that Senior Wright would make a good strategic and cultural fit: Mike has built a successful, specialist construction and liability business with a great reputation in the market.”
He added: “This is going to be a powerful addition to the Jensten Wholesale armoury – taking wholesale GWP to over £80m – and will be of great benefit to our partner brokers and their clients.
The Jensten Group has a strong track record of supporting entrepreneurial, community and client focused brokers in the UK and working in partnership with management teams. I know I speak for the entire Group when I welcome Mike and his team to the Jensten family.”
Group CFO of Jensten, Ed Hannan, said: “Senior Wright is an extremely desirable business with a strong track record and an attractive client base and we look forward to supporting the team in unlocking further potential in the business.
“As a management team, one of our primary missions is to grow through targeted acquisition of good quality, niche and non-commoditised insurance businesses.”
Managing director of Senior Wright, Mike Griffin, said: “After many years of being an independent broker, it is time to look to the long-term future of Senior Wright and make a decision which will be the best for the clients and the staff.
“From my early dealings with Simon and the team at Jensten it was clear that their philosophy matches that of Senior Wright and we have a common vision and ambition for the business.”
He added: “I am delighted to be continuing in the business as Managing Director and look forward to the loyal and talented team we’ve built at Senior Wright becoming part of Jensten at such an interesting time in its development.”