Investment from insurance broker JM Glendinning has facilitated a management buyout at Butterworth Spengler, in a move that will see the business forge ahead under joint ownership.
The firm will continue to trade under the Butterworth Spengler brand run by the existing management team and led by Managing Director, John Lacey.
John says, “The investment from JM Glendinning will allow us to grow more quickly and recruit some of the best people in the market, whilst our clients will continue to deal with the people they know well. Being part of a larger group will also create career development opportunities for our team, which wouldn’t otherwise exist as a smaller, stand-alone business.”
Nick Houghton, CEO of the JM Glendinning Group, adds, “Our success is in no small part down to our independence and the personal service we offer our clients. Butterworth Spengler is a well-respected broker with a similar culture and approach, working across the North West with clients ranging from large corporate to SMEs. Investing in the business will help both firms continue their growth journeys whilst enabling all of our clients to benefit from the greater buying power that being part of a larger group affords.”