CBG Group acquires niche broker
CBG Group, the Manchester based insurance broker, financial adviser and healthcare specialist, completed the acquisition of Barclay Brown Holdings, and it’s trading subsidiaries, on 18 January 2008.
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 willOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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