Jelf confirms £15.5m deal for The Insurance Partnership
Jelf has continued its Northern expansion bid with the capture of The Insurance Partnership Services (TIP) for £12m.
The agreement - which is made up of £8.9m cash and £3.1m in Jelf shares - also includes a deferred performance related consideration of up to an extra £3.5m.
It came as Jelf posted a revenue rise of £1.9% to £35.9m, in addition to rising EBITDAE of 14.3% to £5.1m for the six months ended 31 March 2013.
The national broker - which has some 30 branches across England and South Wales - said the deal for TIP would develop its footprint in Hull, Leeds and York, as well as "reinforce" its presence in
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