Benefits provider Jelf Group has acquired Manson Insurance Group, Bartlett Davies Bicks and Carter & Co. Risk Management.
The Manson Group, which includes Manson Warner Healthcare, focuses on healthcare, general insurance and financial services, in the same core business areas as the Jelf Group.
Jelf has also acquired Bartlett Davies Bicks (BDB) and Carter & Co. Risk Management (CRM). All directors and staff of Bartlett Davies Bicks and Carter & Co. Risk Management will remain and they will continue to operate from their existing premises.
In addition to its acquisitions, Jelf Group has received a placing of £45m including a new investment by 3i QPE. This will be used to capitalise on future acquisition opportunities , fund infrastructure investment and reduce the group’s indebtedness.
Bruce Carnegie-Brown, managing partner of 3i Investments and former UK head of Marsh Insurance, will join the Jelf board.
Alex Alway, Jelf Group chief executive, said “”I am delighted to welcome around 120 new staff to the Group. The placing and investment by 3i QPE gives us the fire power to continue our rapid pace of growth and expansion whilst also paying down some of our debt. This is another landmark day in the history of the Jelf Group.”