The Insurance Partnership sold in £12m deal

WOLVERHAMPTON brokerage The Insurance Partnership (TIP) has been sold to consultancy Jelf for £12m.

The price paid could increase by a further £3.5m depending on future performance.

The £12m consideration will be met by £8.9m of cash and £3.1m in new Jelf shares to be issued on completion of the deal to key senior management and sales staff at TIP.

TIP is a regional general insurance broker with offices in Wolverhampton, Hull, Leeds and York.

Jelf said the deal was in line with its strategy of growth... For the full story register now for free or login below...