Consultancy firm Jelf Group is set to acquire Bristol-based insurance broker Lampier for a figure believed to be in the region of £19.63m, reports suggest.
It is reported Jelf will initially pay £12.76m in cash and shares, with a further £6.87m in cash over a two-year period – subject to target achievement.
Lampier's insurance premiums will be united with Jelf, taking the combined premium total to approximately £150m.
Bob Hearne is expected to remain Lampier managing director and join its operating board.
A spokesman from Lampier declined to comment, while noboby from Jelf Group was available.
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