CBG Group acquires niche broker

Insurance Age staff
18 Jan 2008

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Highlights

CBG has agreed to pay an initial consideration of £1,450,000 in cash for Barclay Brown. Further deferred and additional consideration totalling a maximum £1,850,000 is payable in cash and shares over a two year earn-out period against achievement of targets. Barclay Brown’s operational businesses reported profit before tax of £237,619 on turnover of £1,710,275 in the year to 30 September 2007. The acquisition consolidates CBG’s position within the North West marketplace. CBG

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