East Midlands-based Noble Insurance Group is set to acquire specialist insurance intermediary Caravanwise, supported by a £5m loan from OakNorth.
Founded in 2019 via the management buy-in of Noble Marine, a pleasure craft specialist, Noble Insurance Group was launched to build a family of specialist insurance brands. Its current brands, including CBI, Graham Sykes, New Moon and WG Yachts, offer a range of insurance products and services covering day to day insurance needs and specialist requirements.
Founded in 1998 and headquartered in Christchurch, Dorset, Caravanwise specialises in the camping and leisure market and arranges insurance cover for touring and static caravans, as well as for trailer tents, folding campers, park homes, motorhomes, campervans and horseboxes.
The £5m loan will also help accelerate the Group’s buy and build strategy, that has seen it complete twelve acquisitions to date.
Henry Arundel, co-founder and managing director of Noble Insurance Group, said: “Caravanwise is an excellent addition to our portfolio. It has a highly impressive brand reputation, loyal customer bases, and deep expertise in the caravan and leisure markets.”
Dale Cowdell, director of debt finance at OakNorth, added: “As a result of Henry and Ian’s leadership, Noble Insurance Group has built a robust, high-margin platform in a highly specialised part of the insurance market.
“With a proven buy-and-build strategy and strong insurer partnerships, coupled with the growth in revenues that insurance agent and broker market is set to deliver over the next five years, the business is well-positioned for continued sustainable growth. We’re delighted to support Henry, Ian and their teams as they expand their presence with this latest acquisition.”
