Top 100 broker Hood Group completes PE-backed MBO
Southend-based Hood Group has completed a management buyout with the support of Connection Capital, the private equity and alternative investment platform.
The existing management team of CEO Simon Hood, commercial director Bruce Reid, chief operating officer James Wallis, travel director Mark Izzard, and non-executive chair Andy Homer, all remain with the business along with the associate directors
Finance provided by the transaction includes capital to support investment in its direct and B2B insurance division, as well as funds to pursue new and existing verticals, the Hood Group, a top 100 broker, added.
RelatedTempcover to sell up to UswitchOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
i-wonder to launch classic car comparison site
Niche comparison site solutions provider i-Wonder is rolling out a service for UK classic car insurance, Insurance Age can reveal.
Clear builds schemes business with CoverMarque purchase
The Clear Group has bought niche schemes broker CoverMarque, based in Hampshire.
Ex-LV broker leader Michael Lawrence joins Grove & Dean
Michael Lawrence, previously broker distribution and underwriting director at LV GI, has joined Grove & Dean taking on the same job title, Insurance Age can reveal.
Brown & Brown buys Crosby Insurance Brokers
Brown & Brown has purchased North East based Crosby Insurance brokers.
PIB enters France with 100th deal
PIB Group has entered the French market buying medical malpractice insurance business BEA Group and its subsidiaries, amid speculation about its own future.
Seventeen snaps up four brokers in October
Seventeen Group purchased four brokers across the UK in October after a string of deals throughout the year.
FCA reopens parts of commercial and bespoke insurance discussion paper for feedback
The Financial Conduct Authority has reopened parts of its discussion paper on commercial and bespoke insurance business in response to demand.
SRG builds out MGA arm MX with fourth buy of 2024
Specialist Risk Group has announced the acquisition of reinsurance firm NW Re.