31 October 2022: J Bennett & Son Limited (“J Bennett”) has completed its disposal to UK P&C insurance broker consolidator, Jensten Group (“Jensten”) for an undisclosed amount.
About J Bennett
High Wycombe-based J Bennett primarily works with commercial clients locally and has a life sciences and biomedical field specialism, in addition to solutions for hot air balloon owners. It comprises two businesses, J. Bennett & Son Insurance Brokers based in High Wycombe and its Oxford-based subsidiary, Mathews Comfort & Co. Both businesses have a rich heritage of providing quality advice to their clients, with J. Bennett & Son established in 1908 and Mathews Comfort founded in 1851 – the two joining forces in 2017.
The business employs 25 people across its two offices and the acquisition brings £13m Gross Written Premiums to Jensten.
Peter Sutcliffe, MD shareholder, explained: “As some of us are reaching retirement we wanted to sell to a business who would continue to prioritise our clients and staff and recognise the value of our heritage and specialisms. Throughout the process, Jensten demonstrated their focus on all the core things that matter to us, and so were the obvious choice as the business moves into its next phase.”
Mark Nicholl, Director shareholder, commented: “We very much appreciate the assistance Kinetix Critchleys provided across a range of services from transaction beginning all the way through to completion. They provided a seamless combination of corporate finance, accounting and tax advice.”
KCCF Partner Ray Barrett commented: “J Bennett is a great example of a high-quality regional insurance broker, with a highly attractive book of business and client base, that quietly goes about its business year-in, year-out. In a consolidating market, J Bennett is a natural and very attractive consolidatee. Jensten provides an excellent home for the both the business and the remaining management team. Well done both parties."
The companies’ announcement can be found here.
About us: Kinetix Critchleys Corporate Finance is an independent corporate advisory boutique, with sector specialisms in Sustainability & Cleantech, Hard & Soft tech, Financial Services including Fintech, and Healthcare. We provide strategic and M&A advice, business planning, valuations, and fund-raising services.