Chase Templeton has secured its biggest deal under its buy and build strategy with the acquisition of Atlas Consulting Group in a deal worth £13.8m annual premium income.
The Rochdale- based firm's annual premium income is driven mainly by larger SME and corporate clients.
Co- founders and directors Jon Tuer and Liz Magnall confirmed they are leaving to focus on their other business interests outside of insurance while the remaining Atlas staff have joined Chase Templeton.
Tuer said: "Whilst Liz and I were keen to fully realise the value of our shareholdings in order to focus on our other business interests, we were equally keen to ensure both our staff and clients were going to be well looked after going forwards.
"We were also greatly reassured by Chase Templeton's proven track record in successfully integrating acquired businesses."
The deal - the fifth the company has concluded this year and the 49th since it secured the backing of Palatine Private Equity in 2013 - meaning that Chase Templeton now generates over £125m API.
Warren Dickson, chief executive officer at Chase Templeton said: "Not only is this the biggest deal we have concluded, strategically it is one of the most important. It will enable us to further build our business by widening our footprint into the larger SME and corporate market in which Atlas has historically been strong performer.
"This supports a wider strategic aim to be among the UK's top five SME medical insurance brokers by the close of the year."
He added: "Another key benefit is that thanks to the exceptional calibre of the Atlas staff who are now joining us, we are gaining further depth and breadth of expertise."
Chase Templeton said that the deal also reaffirms the company's previously stated commitment to drive through "fewer but bigger acquisitions" this year having completed 26 purchases of brokers and books in 2014.
The business now employs nearly 100 staff, almost twice as many as when Dickson was appointed in March 2013 following the securing of Palatine's backing.
The company, which was founded in 2002, now protects over 110,000 lives.
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