Ataraxia Broking has partnered with Needham Insurance Services, based in Nuneaton, as part of a long-term succession and growth plan which will preserve their independence.
The deal sees Managing Director, Neal Lowe staying with the business in his present position and Ataraxia Broking taking a minority investment. The management team and staff will all continue in their current roles, as is normal practice with an Ataraxia investment.
Neal Lowe said: “The unique support of Ataraxia, who provide a wide range of attractive insurer partner deals, creates the infrastructure for Needhams to meet our future growth ambitions. With the uncertain political climate, I also wanted to take advantage of the current 10% Entrepreneur’s Relief and it was important for me to protect the long-term interests of my staff and clients.”
Adam Boakes, Managing Director of Ataraxia states “Neal and the team are a very welcome addition to the group. Needhams are a strong independent local broker with fantastic client service values and relationships. We are very much looking forward to supporting the business over the coming years and are excited to assist in their planned growth”.