Insurance broker Partners& has announced the acquisition of Bristol-based Avenue Insurance Partners, a specialist trade credit and surety bond broker and B2B debt recovery business Ko-bolt International.
The firm said the deals will boost its wider proposition and is directly in line with its strategy to support clients in building business resilience.
The Avenue and Ko-bolt teams, both lead by Shaun Purrington, were formerly part of Tavistock Group.
The deal brings mutual benefits, offering Partners& clients direct access to specialist trade credit insurance advice, and the Avenue team the ability to provide a broader range of advice and services through a parent with shared values and ethos.
The business has a national footprint and will be led from the new Partners& South West hub office in Bristol.
Phil Barton, Partners& Group CEO, said: “Shaun and I have worked together for many years. We share the same burning desire to create a stand-out business that is fully focused on the needs of clients. Many of our clients already work with Shaun and his team, so bringing the team fully into Partners& made great strategic sense. I’m confident this will be a great move for the team, both personally and commercially, and will enhance the range of advice we can provide our clients.”
Purrington said: “It’s been a privilege to lead Avenue from start-up through to a market leader, with the backing of Tavistock Group, and the support of our colleagues, clients, introducers and insurer partners, who have contributed to our success. I’m delighted that we can now
continue our journey as part of the Partners& team and benefit from the additional expertise and commercial reach to support our clients and deliver continued growth.”
