Howden has announced the acquisition of SPF Private Clients, subject to regulatory approval.
The international insurance broker says the purchase extends its offering to the mortgage broking market while enhancing its existing general insurance and wealth management offering, including its high net worth and private client focused businesses.
SPF was formed in 2011 after a management buyout and rebrand of Savills Private Finance, the financial arm of Savills plc, before Cabot Square Capital acquired a majority stake in the business in 2018.
Mark Harris (pictured), CEO of SPF, said: “SPF and Howden are highly complementary businesses that focus on providing the best solutions to our clients while always putting our people first. SPF will benefit from the significant opportunities that being part of Howden will deliver, with a big drive into offering our debt product lines across the group.
“We will carry on doing what we do best, ultimately enabling us to develop products to best serve our clients while allowing our talent to flourish.”
Carl Shuker, CEO, Howden UK & Ireland, added: “SPF is a stand-out business in its sector and is a strong addition to our Howden UK & Ireland business. Both businesses share cultures that are founded on entrepreneurialism and empowerment, and both are passionate about delivering the very best outcomes for our clients.
“With SPF, the recent acquisition of A-Plan and the upcoming completion of Aston Lark, Howden UK & Ireland will be a leading end-to-end insurance distributor capable of supporting all of our clients, whatever their insurance and mortgage needs, underpinned by market-leading digital and data capability.”
