AssuredPartners has announced that it has acquired Scotland-based Borland Insurance. Borland was advised in the acquisition by Morphose Capital Partners, a London-based specialist in M&A, corporate restructuring, and finance. On AssuredPartners’ side, the acquisition process was spearheaded by David Heathfield, who leads the US-based firm’s UK arm.
Following completion of the acquisition, Borland will continue to be run by founder and CEO Jon Silcock. The firm’s team of 30 employees will all remain in place.
The acquisition will give AssuredPartners a platform in Scotland from which to grow, potentially through additional acquisitions.
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“It has been a pleasure working with David and his team at AssuredPartners,” said Nick Atherton, managing director at Morphose Capital Partners. “We wish them every success in growing their UK regional business.”
“Nick, Dave Seaton and the whole team at Morphose have added value during every step in the process,” Silcock said. “Morphose took the time to thoroughly understand the cultural values of Borland and the rationale behind my objectives for Borland’s future. Whilst I was in the privileged position of having a significant amount of interest in Borland, AssuredPartners were quickly identified as being the right fit. I am delighted to be partnering with AssuredPartners and assisting with the growth of the UK regional business.”