Broker Network has today announced the acquisition of its second regional broking powerhouse and Broker Network Member, Boyd Insurance.
Established over 40 years ago and based in Paisley, Boyd Insurance is now seen as one of Scotland’s premier brokerages, delivering a comprehensive portfolio of insurance and risk management services to businesses across a range of industry sectors. The business has grown dynamically, now employing 25 people and managing £12m GWP.
Des O’Connor, Broker Network’s Chief Commercial Officer said: “Boyd Insurance has been a member of Broker Network for over 10 years, benefitting from our range of products and services and fitting with our unique culture. Our new Broker Network Partner will retain their identity and maintain a sense of independence but with support from me and the Executive Team. It’s fantastic to work with a regional team that are highly ambitious with strong growth plans to take the business from £12m to in excess of £20m within the next three years.”
Eric Richardson, Boyd’s Managing Director added: ”This partnership gives us the best of both worlds. Retaining a local ownership will enable continued organic growth focused on providing a close personal service to our commercial clients while the investment from Broker Network will provide access to capital to facilitate the acquisitions of like-minded, compatible businesses.”