Howden's To Acquire Perkins Slade

Howden UK has bought Birmingham-based Perkins Slade for an undisclosed sum.

The deal remains subject to shareholder and regulatory approval.

The broker will form part of Howden UK's retail business and takes its revenues to over £60m.

Perkins Slade has historically specialised in sport and recreation, with a particular focus on national governing bodies and amateur sports associations; corporate, with a focus on mid-market supplemented by UK trade credit and professional lines; and high net worth private clients.

Howden, part of the Hyperion Insurance Group, confirmed that its existing trade credit business, also based in Birmingham, will relocate to Perkins Slade's offices.

According to the firm, the acquisition complements its existing UK operations, which include London, Bedford, Liverpool, Brighton and Wakefield.

Stuart Rootham, joint managing director of Howden UK Retail, said: "Perkins Slade is an excellent acquisition for us.

"The company has an extremely strong reputation in its market and a book of business that complements our strategic vision for Howden UK.

"Birmingham is an important location for us as we continue to expand our national footprint across both corporate and private clients and make Howden the natural home for talent in every part of the UK in which it operates."

David Howden, CEO of Hyperion, added: "We have a clear strategy of making selective acquisitions which complement our commitment to organic growth and match our vision and culture. I am delighted to welcome Perkins Slade, which is a high-quality broker that matches these criteria and is an excellent fit for Hyperion.

Ron Forrest, chairman of Perkins Slade commented: "In view of the imminent retirement of David Slade and me, the board of Perkins Slade felt that this was the right time to partner with a larger, stronger, but still independent group.

"The combination of Hyperion's employee-ownership model, our shared belief in the importance of specialisation and Howden's fellow membership of the Una Alliance make this a good strategic fit for both businesses."

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