Expanding its presence in the South East was a key factor behind Premier Choice Group’s (PCG) acquisition of Advo Group.
This is according to PCG director Stephen Hough (pictured), who stepped down as managing director of the company at the end of May to lead on strategy and acquisitions.
The Brown & Brown-owned company announced this morning that it had purchased employee benefits intermediary Advo Group Ltd.
The deal is the latest of a number of acquisitions by PCG, which completed six in the first half of 2024.
Advo is based in Maidstone, Kent, specialising in employee benefits for domestic and international customers. Last year Advo and its team secured five awards at the UK Health & Protection Awards 2023, including advice firm of the year.
The business recently restructured to carve out its HR and payroll division Advo One, which will remain within the Advo Holdings Ltd businesses.
Advo directors Larry Bulmer and Colin Boxall will remain with Advo One.
Under the terms of the acquisition, which has been completed following regulatory approval, PCG will add Advo’s employee benefits business to its existing proposition.
Lucy Irvine, head of employee benefits at Advo, will continue in that role as the team expands its activity in the South East as part of the Brown & Brown team.
Lucy Pearce, Advo Group’s commercial director, will join the PCG management team and be the commercial director for PCG, working alongside recently appointed managing director Darren Perkins.
Speaking to Health & Protection this morning, Hough revealed terms of the deal were not being disclosed and while there were quite a few synergies between the businesses, Advo will remain as Advo Group Ltd and will trade as such and no redundancies are being made at Advo following the deal.
“It gives us a base in the South East where we’re quite strong on the general insurance side but we didn’t have a lot of presence as far as Premier Choice was concerned.
“We’re keeping the Advo office and all the staff. It’s just a further expansion of the Premier Choice growth strategy.”
In its company announcement this morning, Perkins said: “It’s great to be able to boost our employee benefits proposition by adding this dynamic team of professionals in the South East.
“They are a highly respected and experienced team with a strong reputation for service in employee benefits.
“The book of business they bring to PCG will also give us scale advantages and a high-quality customer list from which we expect to build out with additional services.”
Pearce added: “Becoming part of PCG/Brown & Brown gives us an excellent opportunity to establish a leading market presence in the employee benefits market.
“We are all very excited by this new opportunity, which comes on the back of our successful period of growth within Advo Group.
“The next stage of our journey promises to be exciting, and we look forward to being part of PCG.”