Birmingham insurance brokers buy Warwickshire firm
A Warwickshire insurance broker has been acquired by Adler Insurance Group for an undisclosed amount.
Cross & Co are Adler’s third deal in less than two years. Following a management buyout in 2016, Adler bought insurance brokers Ellerton Knight in 2017, and expanded its Birmingham office to fit its now 40-strong team.
Cross & Co employees will remain in their offices in Kineton, and there are no reported plans for redundancies.
Antony Adler, managing director of Alder Insurance Group, said the acquisition is part of his five-year succession plan.
“This plan started to take shape last June when we completed our first book acquisition from local Birmingham brokers, Ellerton Knight.
“True to my original succession plan, I am delighted to announce that we have now also completed our first share acquisition of Cross & Co.
“We have been very selective when both approaching and being approached by business owners and I am thrilled that the team at Cross & Co have opted to join with us. They have an excellent reputation with insurers and they have impressive relationships with their clients.”