The Romero Group is celebrating another consecutive year of growth and expansion despite challenging market environments, alongside its first acquisition.
The Leeds-headquartered insurance broker has achieved turnover growth of almost 24%, reaching £19.7m to the financial year ending May 2022. This translated into even stronger growth for the Group EBITDA of 38% to over £8.1m.
The firm says this has been achieved through maximising efficiencies, investing in staff and focussing on high value new business growth, with over £12m of new business GWP written. This takes the group GWP to over £110m.
This growth sees the group make its first acquisition of Sentient Group Limited – HR, Employment Law and Health & Safety Specialists – a strategic move expanding the Romero Group’s ability to offer in-house services to clients, expanding its holistic service proposition.
The complementary offering will help further accelerate the Romero Group’s growth through cross-selling the Sentient offering as well as opening up new markets.
Romero Group Managing Director, Simon Mabb, said: “It’s a really exciting time for us to welcome Sentient into the Romero Group. We continue to see clients value the breadth of services we’re able to provide them in-house, and the alignment between our businesses made this acquisition an easy decision to make.
“This natural fit will help us supercharge our growth and continue delivering exceptional service to our clients with the talented Sentient team. Despite there being challenges in the market, this feels like a really exciting time for our business and our teams.”
Sentient director, Fiona McQuillan, said: “As Sentient approaches its 20th anniversary, this felt like the perfect time to join forces with Romero Group and benefit from their diligent drive for organic growth.
“We have ambitious plans to refresh our brand to help us showcase the fantastic work our team can do to support the wider Romero Group and contribute to the expansion of this great organisation.”
