JLF.L Regulatory News (JLF)

1 Jul 2005 07:00

Jelf Group PLC01 July 2005 Date: 1st July 2005 On behalf of: Jelf Group plc Embargoed until: 0700hrs Jelf Group plc Acquisition The Board of Jelf Group plc, an established corporate intermediary, todayannounces that it has acquired the financial services business of Crowther BeardLLP, a firm of accountants based in Herefordshire, Gloucestershire andWorcestershire with five offices. Jelf Group is based in the West Country and Wales and offers a range ofcorporate services principally in the areas of commercial insurance, commercialfinance, healthcare, employee benefits and financial planning. The precise terms of the deal are subject to confidentiality agreements but theconsideration of c £150,000 is based on levels of renewal business and issubject to the usual clawbacks if targets are not met. No staff are involved inthe deal and the business will be absorbed into the Jelf Group's CheltenhamOffice. A presence will be maintained at the offices of Crowther Beard who willalso continue working with Jelf as business introducers. Commenting on the acquisition, Jelf Group's CEO Alex Alway said: "We are delighted to announce the purchase of this book of business which fitsin well with our operations in the locality and brings further scale to ourCheltenham operations. Our expectations are that we will release the fullpotential of the customer base by offering our wider range of services." Further information from: Jelf Group PLCAlex Alway (Group Chief Executive) Tel: 01454 272727 Redleaf Communications Tel: 020 7955 1410Emma Kane/Sanna Lehtinen Mob: 07876 338339 Notes to Editors: • Jelf Group was founded by Chris Jelf in 1989. Today, the Jelf Groupoperates from a number of premises in the West Country and Wales and offers anextensive range of corporate services; • The Group advises over 4,000 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 that hasenabled 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 - Managed Healthcare Ltd - acquisition of independent Somerset based brokerage specialising in healthcare and private medical insurance o 2005 - Arnold Wills - acquisition of independent financial advisor based in Somerset o 2005 - The South West commercial insurance operations of R.K. Harrison based in Taunton. • 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