Muckle LLP and Cavu Corporate Finance support Simpson & Parsons takeover

Two North East professional services firms have supported a multi-million-pound insurance broker takeover.

Muckle LLP and Cavu Corporate Finance worked with Simpson & Parsons on its sale to Jensten Group.

Bosses say the deal will create 20 jobs and see Cumbria-based Simpson & Parsons become a “Northern regional centre of excellence”.

Adam Rayner, a partner at Newcastle-based Muckle LLP, said: “This is a landmark deal.

“It has been a real pleasure to have worked with the senior team; I’m delighted to have helped the business on a deal which represents an important milestone in its history.”

Sahil Nayyar, assistant director at fellow Newcastle company Cavu Corporate Finance, added: “We are delighted to have delivered an excellent result for shareholders.

“Simpson & Parsons have established themselves as a leading insurance broker and underwriter, and will be a great addition to Jensten.”

Tim Parsons, Simpson & Parsons’ chief executive, who will become regional managing director for the Northern region under the terms of the takeover, added: “We’re joining a business where our established regional presence and focus on delivering great solutions is valued and seen as important.”