Gordons advises Liverpool’s Butterworth Spengler on Gloucester-based insurance broker acquisition
Wednesday 22nd September 2021
Gordons has advised Liverpool-based insurance broker Butterworth Spengler on its acquisition of Brunsdon Insurance, which is headquartered in Gloucester.
Corporate partner Duncan Firman and corporate solicitor Stephanie Houghton worked on the deal which was facilitated by investment into Butterworth Spengler by Guiseley-based insurance broker JMG Group.
Brunsdon Insurance will continue to work from its offices in Gloucester, trading as Brunsdon Insurance and offering its services for corporate, SME and private clients, with access to wider services through Butterworth Spengler and the group.
Neville Mills, who has been managing director at Brunsdon Insurance for six years following its MBO in 2015, will continue to lead the business. Brunsdon Insurance’s existing team of 17 will join Butterworth Spengler’s team of 30 employees.
Neville Mills, managing director at Brunsdon Insurance, said: “I am hugely excited to be working with Butterworth Spengler and the JMG group in building the footprint in the South West and of course the growth aspirations throughout the UK.
“Being part of a top 75 broker will provide us with valuable resources and knowledge to support our client placements, and opportunities to engage more with new clients. Our independence and personal approach to client relationships continues as it has done for over 85 years.”
JMG group was formed in 2020 when JM Glendinning Insurance Brokers underwent an MBO led by group chief executive Nick Houghton, with private equity backing from growth investor Synova.
Nick said: “This is an excellent acquisition for Butterworth Spengler and for the group. It’s a textbook example of what we wanted to achieve when we established the JMG group – to find insurance broker businesses with the potential, and appetite, to grow. We expect that is the first of many acquisitions for companies within our group.”