Ataraxia ups stake in broker JTS

Broking group Ataraxia has increased its stake in North West commercial broker James Taylor Steven Ltd, which is based in Worsley, Manchester. As part of this transaction, Chris Sedgley will become the managing director as well as a significant shareholder. A stake in the business has also been purchased by SSP insurance brokers based in Altrincham.

Dave Clapp (pictured), CEO of Ataraxia, said: “This is a great business and one I have admired for many years. Our flexible model has enabled the newly promoted MD to buy into the business, another local broker to join forces, as well as Ataraxia to increase its stake.

“The new trio of investors is a force to be reckoned with and we plan to grow our presence in the Greater Manchester area significantly over the next 12 months.”

Ian Horrocks, the owner and current MD, has been with the business for over 24 years and will continue to work as an active consultant. All the other staff will remain, and the brand and office location will be unchanged.

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