Insurance broker acquired as part of strategy to build a national network
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Schofield Insurance Brokers, in Leeds, has been acquired by Ethos Broking.
The deal is intended to provide a new growth platform in West Yorkshire as Ethos continues to build its network of brokers across the country who share similar values and have a strong presence within their local communities.
Now in its 50th year, Schofield Insurance focuses on commercial lines while offering a personal service and handles more than £10m Gross Written Premiums (GWP).
With a 30-strong team led by managing director Gary Holland and director Tom Butler, it is a founding member of Broker Network, the UK’s longest established insurance network.
The business will retain its offices in Kirkstall Forge and will continue to trade under its own name while providing a regional hub in the north for Ethos Broking.
Gary Holland, managing director of Schofield Insurance, said: “As a founding member of Broker Network, we have a close connection to Ethos Broking, and we have watched the business grow into what it is today.
“The cultural fit is spot on for us and when we decided that the time was right for the next phase of our journey, both Tom and I were adamant that we would only work with people we trust.
“The Ethos brand will provide us with the backing we require to move on to the next level and I’m excited to see our team unlock all the opportunities the move brings not only for our business, but more importantly for our clients.”
Richard Tuplin, Ethos Broking CEO, added: “Schofield is a business we have long admired and I am incredibly excited to welcome them to the family today.
“Gary’s and Tom’s understanding of how powerful great customer service can be is absolutely aligned to the Ethos culture, combine that with how they support their people they could not be a better fit for Ethos. Undoubtedly, great things are going to happen.”
The deal was supported by a team of Yorkshire advisers, including Alex Cooper, Santino Stifanelli and Emma Spragg of Clarion which advised Schofield Insurance.
Alex Cooper, of Clarion, said: “We’re proud to support a long-established Yorkshire business like Schofield Insurance as it embarks on the next chapter in its development and wish it every success as part of Ethos Broking’s flourishing UK network.”