Brown & Brown (Europe) Limited has acquired 100% of the share capital of The CI Group Holdings Ltd (‘CI Group’), a trade credit insurance solution specialist.
Founded in 2000, CI Group provides credit insurance solutions for banks and other commercial lenders via its in-house developed technology platform, E-Bonded. The business also facilitates access to debtor insurance for UK SME businesses.
Today, CI Group helps protect over £6 billion of trade turnover in the UK and internationally, with its customer base ranging from £250k to £250m in annual turnover.
CI Group will continue to be led by founder and managing director Mark Toulmin, who will work closely with Steve Stennett (CEO, Xenia Broking) to further enhance their differentiated platform and best-in-class service for lenders and SMEs.
Commenting on the deal, Steve Stennett said: “CI Group is a highly respected and well-established trade credit insurance broker. I have been impressed by Mark’s entrepreneurial philosophy, long-standing relationships with commercial customers and track record of success over the past two decades.”
“I’m really pleased he has chosen to commit his and the team’s future to Brown & Brown; the acquisition brings additional capabilities through the E-Bonded platform, which provides a connected ecosystem for lenders and SMEs, along with CI Group’s blue-chip lender customer base.”
Mark Toulmin added: “We have been looking for a partner for several years to help build on our success. Discussions with Steve and his team were constructive from the outset, and it quickly became clear that CI Group’s future, and that of the team and our customers, will be substantially enhanced as part of Brown & Brown.”
The deal has received regulatory approval, and the consideration is undisclosed.
