JLF.L Regulatory News (JLF)

2 Feb 2005 07:00

Jelf Group PLC02 February 2005 Date: 2nd February 2005 On behalf of: Jelf Group PLC ("Jelf Group" or "the Company") Embargoed until: 0700hrs Jelf Group plc Acquisition of Top IFA and Team The Board of Jelf Group PLC, an established corporate intermediary, todayannounces that it has recruited top independent financial advisor, Arnold Wills,together with his team in addition to acquiring his existing business book. Jelf Group is based in the West Country and Wales and offers a range ofcorporate services principally in the areas of commercial insurance, healthcare,employee benefits and financial planning. Arnold Wills is based in Wells, Somerset and has a client bank of approximately1,500 corporate and private clients with annual turnover in excess of £400k perannum. The precise terms of the deal are subject to confidentiality clauses, however,the Company confirms that this latest acquisition, its tenth, is in line withpreviously announced deals and does not expose the Group to any legacy issues.The Company expects that any consideration will be paid from existing cashflows. Commenting on the acquisition, Jelf Group's Chief Executive, Alex Alway, said: "We are delighted to announce the recruitment of Arnold and his team. Hisexperience and commitment to clients and professional partners dovetails withour existing operations in the locality and provides additional capacity. Weexpect to realise the full potential of this operation by offering our combinedportfolio of clients a wider range of services." For further information: Redleaf Communications Tel: 020 7955 1410Emma Kane/Sanna Lehtinen Mob: 07876 338339 Jelf Group PLCAlex Alway (Group Chief Executive) Tel: 01454 272727 Notes to Editors: • Jelf Group was founded by Chris Jelf in 1989. Today, the JelfGroup operates from a number of premises in the West Country and Wales andoffers an extensive range of corporate services; • The Group advises over 4,500 corporate clients across a range ofdisciplines. These clients cover the spectrum from significant public companiesto small owner managed businesses. Core Jelf clients are medium sizedowner-managed businesses, typically employing between one to 50 staff, with aturnover of up to £10 million; • The Group has developed a corporate support infrastructure thathas enabled it to make a number of acquisitions over the last four years. Theseacquisitions span all core areas of the Group's business and have been made toeither supplement existing operations or acquire a corporate client base thatcan be utilised by the enlarged Group. The significant acquisitions were asfollows: o 2000 - IFM - IFA based in Bristol - relocated to Yate, Bristol; o 2001 - Corporate Healthcare Management - Healthcare partnership; o 2002 - Spring Gate Insurance - Purchase of a book of commercial insurance; o 2003 - Richard Levinge Associates - IFA business based in Cheltenham; o 2003 - SLF Insurance (Services) Ltd - Purchase of a book of commercial insurance; o 2003 - Kallender Walwyn Ltd - Purchase of commercial insurance business based in Trowbridge; and o 2003 - Pontin and Stein - Corporate Healthcare partnership o 2004 - YouatWork - Healthcare book of business o 2004 - Managed Healthcare Ltd - acquisition of independent Somerset based brokerage specialising in healthcare and private medical insurance • Further information is available on Jelf at the Company's website: www.jelfgroup.com. This information is provided by RNS The company news service from the London Stock Exchange