The Swinton Group pays #27m for Colonnade.
The Swinton Group has bought Colonnade Insurance Brokers for #27m. Swinton is paying former owner...
The Swinton Group has bought Colonnade Insurance Brokers for#27m.
Swinton is paying former owner Provident Financial #10.6m for the share
capital of Colonnade and paying off #16.4m, which Colonnade owed its
parent company. Provident expects to make a profit in the sale of
Colonnade, increasing its net assets to #4.1m.
Colonnade has 88 high-street outlets and a telebroking business. It
employs 790 people and generated profits of #1m after tax in the year
ending 31 December 2001.
Former owner
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