Multi-specialist broker Academy Insurance has recruited William Magee (pictured) to the newly created position of M&A director.
Magee, who began his new role earlier this month, reports to CFO Andrew Creedon and joins Academy from Jensten Group, where he performed a similar role.
Andrew Creedon said that Magee will be responsible for spearheading the group’s M&A strategy. The PE-backed broker has set itself up as a buy and build specialist, and the strong acquisitions pipeline requires the oversight of a full time M&A director.
“We have a number of acquisitions in our sights, with high expectations of landing two deals before Christmas. The appetite for deals in the UK broking sector remains very high and we need Will’s experience of broking M&A to lead business development and execution.”
“He is a high calibre individual with several years of hands-on experience of deal-making that we require. He will be a key member of the senior team, not only for M&A, but also supporting our integration unit in due course as we accelerate the business ‘build’ through acquisition.”
Commenting on his new role, William Magee said: “Academy has an attractive philosophy and ethos which is centred on putting the customer first. Andrew explained that the Group’s purpose-led approach: ‘Together we protect your world, beyond doubt’ is just as applicable to the brokers we want to acquire as our customers.”
“In my experience vendors are looking for more than the biggest cheque from acquirers. They want to know that the legacy they’ve built over their careers will be preserved, their people will be nurtured and their customers provided with the very best in quality of service.”
William added: ‘In my discussions with Andrew and Gilles [Normand, Academy CEO], they both stressed that the Academy purpose permeated throughout the business, including the businesses we acquire. This approach is unusual in broking M&A and really resonated with me.”
William said that the picture for broking M&A remained bright for 2024. “There is still a sweet spot for brokers who want to create value from their life’s work and wish to shift their focus to their clients, while handing off regulatory and compliance responsibilities to another party.”
“Our plan is to complete six acquisitions during the year, as we continue to build a hub and spoke model for UK-wide coverage. It’s an exciting time to be joining such a progressive business, and I look forward to playing a leading role in delivering Academy’s strategic ambitions.”
About William Magee
William worked as an audit and advisory manager in Deloitte’s private markets division before moving into an M&A role at Sabio. He joined Jensten Group in early 2022 to work on M&A, and started his new role at Academy on 15 November.
About Academy Insurance Services
Academy Insurance was founded in 1995. Headquartered in Pangbourne, the business has grown over the years and now serves 60,0000 customers from 11 offices across the UK. In 2023, private equity house Blixt Group invested in the business with a strategy to develop its people and technology, and make funding available to the management team to grow both organically, and through M&A.