The Jensten Group, one of the UK’s leading insurance distribution businesses, has acquired Kent-based Darwin Clayton (UK) Ltd and Darwin Clayton Partner Brokers.
Accountancy firm Azets, with Kent offices in Maidstone, Ashford, Canterbury, Sandwich and Orpington, provided Darwin Clayton, headquartered in Tunbridge Wells, with sell side advisory services on the deal, which was for an undisclosed sum.
The consolidation sees 2,300 clients and 44 staff added to the London-based Jensten Group, which was launched in 2018 and employs more than 500 people across 20 locations, and partners with 95 entrepreneurial franchise holders.
Darwin Clayton CEO Simon Henderson will report to Jensten retail managing director Rob Organ and will continue to lead the business as it targets further organic growth and the development of new affinity schemes.
Rob Organ said: “Darwin Clayton is a highly respected specialist schemes broker. I’m delighted that they have chosen to join Jensten at a time where we’re focussed on building our schemes capability, enabling us to deliver market-leading propositions that meet the needs of different communities of clients with specialist niche requirements.”
Simon Henderson said: “We wanted to join a group where our specialisms, staff and expertise would be valued, and where we’d be supported to continue growing the business and delivering for both clients and our partner brokers.
“It was clear to us that Jensten met those criteria and was a fit when it came to our focus on people and culture. We are delighted to be joining the Jensten family and continuing to build a world-class business.
“We are also indebted to the skill and expertise of the superb team at Azets, with whom we have worked for many years, for getting this deal over the line. There are many technicalities involved with such negotiations and the Azets team handled them with aplomb.”
The Azets team working on the deal included Nick Parrett, regional managing director, South; Josh Vincent, director, Accounts & Business Advisory Services; and David Ellis, corporate finance director.
Nick Parrett (pictured) said: “Darwin Clayton is a long-standing client and needed our help and advice with regards to technical details, such the completion mechanisms, final consideration points and anything arising from financial due diligence, to make sure the deal ran smoothly.”
Azets, the UK’s largest regional accountancy and specialist business advisor to SMEs, also advised Bexleyheath-based motor trade specialist Bellegrove Business Insurance when it was acquired by the Jensten Group last December. The firm is now exploring future possibilities with Jensten after successfully working with them twice on transactions on the seller’s side in a short space of time.
Nick added: “We are really pleased that Jensten, a Top 10 Independent Broker which now places in excess of £400m GWP (gross written premium) into the market, has made such excellent consolidations and we hope to build on our relationship with them.”