Beaumonts eyes up further targets following finance deal

AN acquisitive insurance broking group is eyeing further expansion after securing a funding package from Yorkshire Bank.

Beaumonts Insurance Brokers, which employs 95 staff across offices at its Bradford headquarters and in Leeds, Doncaster and Shrewsbury, offers intermediary services ranging from claims and risk management to corporate and travel insurance.

Since it was established in 2001, the group has made a number of acquisitions, including the takeover of Shrewsbury insurance broker Kingsland Robart in 2011.

It has also invested heavily in risk management and claims staff in order to boost its position within the marketplace.

The company said the refinance deal, the sum of which was not disclosed, will enable the business to continue with its ambitious growth plans, which could include further acquisitions in addition to pursuing organic growth.

The deal was delivered by Philip Shearstone, Bradford-based business development manager with Yorkshire Bank’s business and private banking corporate team.

Craig Seed, Beaumonts’ finance director, said: “When seeking a new banking partner, it became clear from early on that Yorkshire Bank could provide the solutions we needed.

“The bank’s future support will be of great importance to us and we are looking forward to working with its experienced team to help us achieve even greater success.”