Member Article

Richmond insurance broker snapped up as owner retires

Insurance broker B E Thompson & Company, based in Richmond, has been sold to fellow North Yorkshire finance firm McClarrons Ltd for an undisclosed sum.

Chartered accountancy practice Haines Watts, which boasts offices in Newcastle and Darlington, advised on the deal which sees the firm maintain its Richmond routes although owner Peter Thompson exits his role as company director.

Graham Cornforth, Director of Corporate Finance at Haines Watts who worked on the deal, said: “B E Thompson was established in 1953 and is a highly regarded business with many long standing clients.

“This acquisition sees the continuation of the business in Richmond and presents a real opportunity for further growth as part of McClarrons. It was a pleasure to have advised Peter on the transaction.”

Peter Thompson, Director at B E Thompson & Co Ltd, commented: “After 64 years of trading and with my reaching the age of 70, I have finally decided to hang up my boots, and retire!

“I am delighted that McClarrons Ltd is taking over the company, with their strong values of a family business like ours and their specialist knowledge, I have no doubt that our clients will continue to receive excellent service and expert advice.”

Sean McClarron, Managing Director at McClarrons explained: “We are delighted to have acquired B E Thompson & Co, an independent Yorkshire broker with longstanding family values much like ourselves.

“It is geographically aligned to our growth plans and we look forward to developing our presence in Richmond and the local community.”

Ripon-based law firm Eccles Heddon LLP, legal advisors to B E Thompson, handled the sale on behalf of their client, with Partner Martyn Clarke completing the transaction.