Xenia Buys UK Trade Credit and Surety Broker, Peter Hill Credit & Financial Risks

The credit insurance and surety specialist, Xenia Broking Group, announced it has acquired Peter Hill Credit & Financial Risks Ltd., based in Northampton, England.

Peter Hill is a leading specialist trade credit insurance and surety broker, with a particular focus on the construction sector.

Financial details of the transaction, which was completed on Nov. 30, were not disclosed.

This is Xenia’s seventh acquisition in two and a half years, reinforcing the company’s strategy of combining M&A and organic growth to build a leading independent trade credit and surety broker.

The Peter Hill team led by Mark Davison and Dave Smith will continue to run the business post-transaction from their current offices. The business will fully integrate into Xenia in the coming months.

“Peter Hill’s reputation, client service ethos and sector specialisms are highly complementary to Xenia’s. We are very excited for what the team brings to us as we develop yet further our established expertise. I am delighted to welcome Mark Davison, David Smith and the outstanding Peter Hill team to Xenia,” commented Tim Coles, CEO of Xenia.

“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,” Coles added.

“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,” he said.

“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,” said Mark Davison, director at Peter Hill. “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.”

Dave Smith, Bond and Credit Insurance director at Peter Hill, said: “This is a great opportunity for Peter Hill and our clients as we will be complimented by Xenia’s capability in this very specialized 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.”

The Peter Hill office will continue to be based in Northampton and its brand will remain on completion but will be integrated into Xenia as soon as possible.

Source: Xenia Broking Group