Xenia snaps up UK trade credit broker Peter Hill
Credit insurance and surety specialist Xenia Broking Group has purchased a UK-based trade credit broker, marking its seventh acquisition since it was set up two and a half years ago.
Xenia has struck a deal to acquire Peter Hill Credit & Financial Risks, a specialist trade credit insurance and surety broker based in Northampton, and with a particular focus on the construction sector.
The company noted that the deal reinforces its strategy of combining M&A and organic growth.
Peter Hill is led by Mark Davison and Dave Smith, who will continue to run the business post-transaction from their current offices. The business will fully integrate into Xenia in the coming months.
Tim Coles (pictured), chief executive officer of Xenia, said: “The union underlines our strategy to combine with similar independent firms who share our vision to create a driving force for the development and growth of the trade credit and surety markets. We aim to establish Xenia as a leading independent credit, surety and financial risk broker internationally for which it is important that we continue to attract specialist teams and businesses such as Peter Hill that share our ambition and ethos and who want to align with an independent and entrepreneurial broking group.”
Davison, director at Peter Hill, commented: “This transaction with Xenia is a formative development for Peter Hill and is testament to the strength of our client service, the quality of our business and the expertise of our people. We are excited about the future as we embark on a new chapter in our growth strategy with a like-minded partner that understands our strengths, culture, values and focus on delivering outstanding customer service.”
Smith, bond and credit insurance director at Peter Hill, added: “This is a great opportunity for Peter Hill and our clients as we will be complimented by Xenia’s capability in this very specialised market. We are encouraged by the capacity available with our insurers and with the expectation that there will be increased requirement for bonds during 2022.”
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