ECI announces sale of insurance broker Clear Group

27/06/2022
Read Time: 2 Min

We’re delighted to announce the successful sale of award-winning Chartered Insurance Broker, Clear Group, today to the Private Equity business within Goldman Sachs Asset Management following a four-year partnership, subject to regulatory approval.

Clear Group is a broker focused on offering peace of mind to its clients and is driven by its values of putting customers in the hands of an expert they can rely on, someone they can build a relationship with, who cares and will do the right thing.

This culture has helped Clear Group to double in size consistently every 3 years, with an Excellent rating on Trustpilot, and its distinctive values have also helped to differentiate the business. Since our investment in 2018 the business has completed 10 acquisitions, and the business will look to continue to scale and add additional specialist solutions for its customers.

During our partnership, Clear Group has increased its headcount by 175%, now employing over 600 people across 15 locations. It has also trebled its premiums, today handling over £330m. This growth demonstrates the quality of the Clear Group platform and people.

This deal signals confidence both in our business and in the long-term direction of the market sector in which we operate. It’s a real endorsement that Goldman Sachs has seen the value in our company and is keen to back us as we put the next phase of our strategy into action. I’d like to take this opportunity to thank the ECI team for the support they have given us during our partnership, trebling the size of our business.”

Mike Edgeley

CEO, Clear Group

It has been a pleasure to work with ECI during the last four years, which have been transformative for Clear Group, and we are well positioned for future growth in this new partnership with Goldman Sachs. They are an experienced investor within insurance and will allow us to continue to deliver our M&A strategy and provide more clients with the levels of service we’re known for.”

Howard Lickens

Executive Chair, Clear Group

Clear Group is a fantastic business with a distinctive culture that makes it a standout in the commercial broker market. It’s been a pleasure working with Mike, Howard, and the whole Clear Group team during our partnership and we look forward to watching them continue their growth trajectory with their new investor. We’d like to thank them for all their hard work and wish them all the success for the future.”

Paul McCreadie

Partner, ECI

Macquarie Capital served as financial adviser, and Squire Patton Boggs served as legal counsel to Clear Group and ECI Partners.

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