Lockyers first acquisition as an Ethos Broking Partner
Lockyers Insurance has announced the purchase of Newcastle-based independent broker and Broker Network member, Bernard Saxon General Insurance Services Ltd (BSIS). The purchase is Lockyers’ first acquisition since becoming an Ethos Broking partner in 2018.
Established in 1984, BSIS which is based in Jesmond, Newcastle is owned and run by Patrick Carney and Scott Kinnaird with 8 additional members of staff, all of whom will remain with the business following the acquisition. The brokerage which manages £5.5m GWP specialises in commercial lines business and supports clients across the UK.
Commenting on the purchase, Jon Newall, Lockyers’ Chariman said: “I’m delighted to be making our first acquisition as part of the Ethos Broking family. Being part of the Group has enabled us to complete this first acquisition with a team we have known as part of Broker Network for many years. This is a fantastic start to the New Year for us and we’re excited to begin 2020 with such a prominent deal.”
Patrick Carney, Director of BSIS stated “Lockyers were the perfect match for BSIS as we have both been Broker Network members for many years, are similar business and share many working practices.
We have known Jon for a number of years and he and his team have been great to work with from the outset; we look forward to working closely with them in the future. We have grown the business substantially in recent years and look forward to continuing its growth in the years ahead.”
Lockyers’ MD, Martin Weaver-Parker added: “BSIS has a proud tradition of serving commercial and personal clients across the UK and providing high quality advice. They have an extremely knowledgeable team and strong culture which aligns with ours. We can’t wait to begin working with Patrick and Scott and the team, all of whom will bring additional capabilities to our expanding team.”
Established in Wakefield, West Yorkshire in 1981, Lockyers has grown from a small shop to a leading independent insurance broker with strong commercial ties across the region. The brokerage employs 17 people and focuses on commercial lines business, with a focus on the Leisure & SME sectors.