Family insurance firm sold after 64 years

Long established insurance broker, B E Thompson & Company, has been sold to Malton based McClarrons Ltd.

B E Thompson & Company, of Richmond, was established in 1953 and has many long standing clients. The sale marks the exit for Peter Thompson as director and the acquisition will see the continuation of the business in Richmond.

Thompson said: “After 64 years of trading and with my reaching the age of 70, I have finally decided to hang up my boots, and retire! I am delighted that McClarrons Ltd is taking over the company, with their strong values of a family business like ours and their specialist knowledge, I have no doubt that our clients will continue to receive excellent service and expert advice.

“In addition, our lovely and thriving town of Richmond will benefit from further employment opportunities.”

Sean McClarron, managing director at McClarrons added: “We are delighted to have acquired B E Thompson & Co, an independent Yorkshire broker with longstanding family values much like ourselves.  It is geographically aligned to our growth plans and we look forward to developing our presence in Richmond and the local community.”

Graham Cornforth, Director of Corporate Finance at Haines Watts, advised Thompson on the sale.

Cornforth said: “B E Thompson was established in 1953 and is a highly regarded business with many long standing clients. It was a pleasure to have advised Peter on the transaction.”

This latest deal comes after a strong start to the new financial year for Haines Watts, in which the firm advised on three high-profile deals with a transaction value amounting to more than £21 million.

Ripon based law firm Eccles Heddon LLP, legal advisors to B E Thompson, handled the sale on behalf of their client, with Partner Martyn Clarke completing the transaction.