Academy turnover dipped in run-up to Blixt buy
Academy Insurance Services’ turnover and profitability fell in the run-up to being bought by private equity house Blixt, according to a filing at Companies House.
Revenue dropped 4.2%, to £9.67m, in the year ended 30 June 2023, the second annual fall in a row.
Profit after tax was also down for the second time, from £1.5m to £1.34m, as staff numbers dropped by six to 116 people.
At the time, the Top 100 Broker was predominantly a personal lines player.
It had long been touted for a sale, which eventually went through to Blixt, coinciding with the end of Academy’s financial year.
The deal saw ex-Swinton boss Gilles Normand and Richard Beaven join the business
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