CBG acquires Rockbridge Healthcare

MANCHESTER insurance broker CBG Group has bought Bolton-based insurer Rockbridge Healthcare for an undisclosed sum. 

CBG said the acquisition, its first since 2008, reflected its commitment to developing its healthcare provision as part of the company’s growth strategy.

Rockbridge, a member of the Association of Medical Insurance Intermediaries, provides healthcare insurance for corporate clients and individuals. It will be immediately integrated into CBG’s financial services division.

Under the terms of the deal an additional payment will be made if certain targets are met over the next year. The existing directors of Rockbridge will also remain within the business during a handover period. 

CBG’s managing director Mike Askew said: “Healthcare forms an important part of our growth strategy. Our own healthcare division has gone from strength-to-strength in recent years and we’re confident that there will be significant opportunities in this sector going forward. Rockbridge has a real synergy with CBG and we firmly believe the company is a perfect fit as we look to grow our existing business further.”

He added: “The acquisition will allow us to enhance our offering and develop our ability to cross-sell a range of services to our clients. It also reaffirms our commitment to grow the Group, both organically and through acquisition.”

CBG was advised by Greg Sher and Nick Ducker at Manchester law firm SNG Commercial Law.