Jelf triple acquisition and placing

Diversified insurance and financial services firm Jelf Group plc (Jelf) has acquired three firms and proposed two placings.

The target firms were Manson Insurance Group, bought for £16.2 million, and Bartlett Davies Bicks and Carter & Co. Risk Management, purchased for £2.9 million.

The acquisitions, coupled with the announcement of Jelf’s two proposed placings on AIM totalling £47 million, caused the share price to rise by 14.5 pence to 245 pence. The company’s market cap now stands at £63 million, and its turnover is £17.06 million.

The companies, acquired with cash and shares, complement Jelf’s existing general insurance, healthcare and financial services brokerage.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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