“This year has been about putting the building blocks in place for outstanding growth over the coming years”
Bob Darling, Coversure
Following our investment in 2018, Bob Darling has revealed that the franchise firm is poised to roll out its buying programme for branches.
We have worked with Coversure to develop a buy and build strategy for franchises, including building a team to provide advice and funding for franchises looking to strike takeover deals.
Darling comments that "the acquisition project is very well underway. I am expecting to be in a position to announce the start of our new M&A team really soon, and I expect you will see an up-tick in our activity.”
Growth since our investment
Since our investment the Coversure team have seen a strong uptick across the UK, with Darling stating that there is clear evidence that the demand for good advice from regional brokers remains strong.
This comes as the company reported 11% growth in both turnover and post-tax profit for 2018 to £6.04m and £1.17m respectively.
The business also grew to 93 offices in 2018 and Darling confirmed that there were a few areas where he would “love” to see a Coversure office but repeated that the priority was to expand existing offices rather than undertake a landgrab across the nation.
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