Jensten Group has recently acquired an expert mid-market commercial broker Sydney Packett & Sons. The acquisition is a part of the company’s goal to extend its business in the middle market.
The financial details of the transaction are yet unknown, however, The broker will retain the Packetts and Trainsure brands. Sydney Packett & Sons manages £13m in gross written premium (GWP). Maeshall Sugden will remain MD of Packett and lead the company further
“The team and I are excited about becoming part of Jensten, and look forward to taking Packetts to the next level of growth,” said Maeshall Sugden. “Jensten’s flexible and caring approach meant they stood out from the crowd and made them the obvious choice as our new owner.”
This acquisition turns out to be the third in the last eight months by Jebsten Group wherein Jebsten currently controls approximately £230 million GWP and has stated its ambition to reach £500 million GWP in the next three to five years.
The CEO of Jebsten Group, Alistair Hardie, welcomed packetts and added, “With the additional support and funding we can provide, the Packetts and Trainsure brands will flourish and grow. ” He further added, “both organically and through bolt-on acquisitions and books of business in the North.”
The company plans to make more acquisitions in the coming future for its growth and the welfare of its clients. The acquisition will benefit the company to grow in the mid-market as well.