Jelf buys local rival Lampier
Yate-based broker the Jelf Group has purchased local Bristol-based rival John Lampier and Son, a mem...
Yate-based broker the Jelf Group has purchased local Bristol-based rival John Lampier and Son, a member of broking alliance Unitas, for an initial cost of £12.75m in cash and shares. The funds will come out of a £45m loan facility raised through the Royal Bank of Scotland, and an issuance of 700,000 shares. The transaction costs could rise to £19.6m depending on performance and will add £35m of gross written premium of general insurance bringing Jelf's total GI GWP to £150m.
The shares will be
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