Deal-hungry PMI firm swoops again

CHASE Templeton, the private medical insurance consolidator backed by Manchester-based private equity firm Palatine, has bolted-on another small brokerage.

The Lancashire firm has acquired Manchester’s Wellbeing Health Insurance for an undisclosed sum. It is the company’s fourth deal so far this year.

Wellbeing adds nearly £880,000 in annual premium income to Chase Templeton, of which 80% is generated by SME clients. The business was previously owned by Graham Harfleet who is relocating to Scotland after his wife and fellow director Elizabeth secured a new position with the Methodist Church.

Completion of this latest transaction follows last month’s acquisition of Leeds-based Independent Health Services and January’s purchases of Preston’s Health Equity Solutions and Caledonian Health Solutions of Kelso.

Chase Templeton chief executive Warren Dickson said: “Whilst not one of our bigger acquisitions, Wellbeing Health Insurance nonetheless brings another solid and valuable SME client book to the business. It’s a good buy which also precedes a trio of more substantial deals which are pipelined for completion between now and the end of May.”

Since securing backing from Manchester finance house Palatine Private Equity, the company has completed over 60 deals.  Chase Templeton now manages policies worth over £150m and employs some 115 staff across three offices.

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