Preston broker Nugent Santé targets “growth opportunities” after securing investment

Nugent Santé, the Lancashire-based medical and healthcare broker, is set to expand after seeing 50% of its business acquired by MAC Group.

Isle of Man-headquartered MAC Group, a provider of insurance and financial services, snapped up the stake in Nugent Santé for an undisclosed sum.

Founded last year by MD Paul Nugent but officially launched in January 2016, today Nugent Santé manages over £5m of annual insurance premium for both corporate and private clients.

The firm employs a team of 10 at its HQ in Preston.

Paul commented: “The investment into the business by MAC Financial provides a wealth of growth opportunities.

“Having built a strong relationship with Jon and the team at the wider MAC Group, it also gives us comfort and stability in the early years of the business and presents a platform to deliver a sustainable expansion plan.”

He continued: “Our business has grown organically through doing the basics right – offering a first class service but this investment will be a key factor in the future success of Nugent Santé.

“I’m extremely excited about the potential we can achieve working with the MAC Group and how we can also support its plans to develop its business in the UK.”

Following the deal with Nugent Santé, MAC Group – incorporating MAC Financial Pension Trustees, MAC Financial and MAC Commercial – plans to extend its reach further into the UK.

Jon McGowan, the managing director at MAC Group, said: “We are delighted to announce our partnership with Nugent Santé which not only gives us opportunities for expansion in the UK but also offers MAC Group access to market leading healthcare schemes that are simply not available elsewhere.

“Nugent Santé is a dynamic young company that specialises in dealing with small to medium enterprises and brings a new sense of purpose and energy to the health protection sector.”

He added: “Its services and facilities will be at the full disposal of our Isle of Man corporate clients and we look forward to building on our relationship over the coming months.’

Speaking further, Jon said the acquisition forms part of a strategic investment and development plan, and could “act as a springboard” for acquisitions and opportunities in the future.

He continued: “We already have a number of exciting developments in the pipeline and hope to make more announcements later in 2016.”

David Filmer, of Cumbria and Lancashire-based law firm Harrison Drury, advised Nugent Santé during the transaction, along with Mark James Hall from Preston-based MJH Accountants.

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