Folgate alliance completes first deal

The acquisitive Folgate Partnership has completed the first deal under its new investment arm the Folgate Broker Alliance - set up to help brokers not yet ready to sell, but keen to secure an exit strategy.

The new operation, which will run independently of the main hub and spoke broking business, will offer brokers an exit strategy by initially buying a minority stake in a brokerage - typically 25% - conditional on the business selling in three or five years.

Chief operating officer Kenny Mac