Macbeth, the Thames Valley’s leading chartered insurance broker and financial adviser, has completed the successful acquisition of CMJ Insurance Brokers, enhancing its commercial insurance capability for its growing national client base. The move takes the fast-growth Reading firm’s Gross Written Premium to £13 million securing its place as one of the Thames Valley’s biggest insurance brokers.
CMJ works with clients from SMEs to multi-nationals and will bring both business and private client experience to Macbeth’s existing team of 25. Directors Andrew Milverton and Colin Bailey join the Macbeth corporate team as client directors, and an additional four CMJ employees will move into Macbeth’s Theale offices. MD Chris Peters is retiring. This acquisition is a first for Macbeth, which is known for its signature professionalism combined with a fresh-thinking, entrepreneurial approach.
MD Paul Macbeth led the deal and commented: “We’ve known Andrew and Chris for almost a decade and when the opportunity came up to acquire such a high-quality business, we immediately saw the benefits. For a company like ours, whose strength is its people, finding the right cultural match is essential. It’s clear that CMJ share our values and approach – so we’re thrilled to welcome their clients and brilliant people into the Macbeth family.”
Recognised as a key regional player, Macbeth has developed a particularly strong reputation in the technology, recruitment, media and life science spaces. The firm was originally founded by Paul’s late father Malcolm in 1992. Since taking on the leadership of Macbeth in 2009 following an MBO, Paul has gone onto build a legacy business, committed to developing local talent and investing in the community and local charities.
Macbeth added: “This is a new chapter for Macbeth. To date our significant growth has been organic and this will continue. We’re in the position now to really leverage our superb existing infrastructure, potentially through further acquisitions- in a way that supports the strong regional independence and flexibility our clients value so highly.”
Ian Wood-Smith, partner at Reading law firm Field Seymour Parkes, advised Macbeth on the acquisition. He commented: “We’re delighted to have supported Paul and the expanding Macbeth team. We wish them every success in this exciting new chapter.”
Also advising Macbeth was Mark Caldicott, director at accountancy and advisory firm White Hart Associates. He added: “We’ve been acting for Macbeth since its incorporation and, having seen their sustained internal growth, we were delighted to assist them in making this initial external acquisition. Macbeth is a stand-out local business with an exceptional reputation for client focus, professionalism and an incredibly powerful employer brand. Advising on client growth and development is what White Hart Associates is about and I’m looking forward to seeing even more growth for Macbeth in the future.”