A business services company launched in 2023 by Liberty Global has completed its first acquisition with the purchase of specialist insurance brokerage PHL Insurance Brokers.
The deal marks a strategic move to strengthen Liberty Blume’s financial solutions division, one of the four key areas of the business.
PHL, a Lloyd’s of London insurance broker, brings expertise in financial lines, property and casualty insurance, operating across both wholesale and retail markets.
The acquisition will allow Liberty Blume to expand its insurance capabilities and accelerate the development of new products tailored to consumer and commercial needs.
It also provides access to new insurance markets across the UK, Ireland and the Netherlands, where the company already has a presence.
Since launching, the business has grown to employ 900 people across seven sites and is generating over $100m in annual revenue.
It offers a range of services designed to improve efficiency and reduce operational complexity for its clients, including business solutions, procurement services supported by technology, financial services such as lending and insurance, and sustainability-focused services aimed at reducing environmental impact.
The company is wholly owned by Nasdaq-listed Liberty Global, which has a market cap of $3.83bn, and supports well-known brands across multiple sectors by providing tech-enabled services.
By reinvesting profits into the business, the company expects to achieve double-digit revenue growth in 2025.
It is aiming for long-term expansion and has stated its ambition to reach a valuation of over $1bn by 2028.
“Strategic acquisitions such as this are set to play a crucial role as we continue to scale Liberty Blume, allowing us to diversify, deepen expertise and move even faster to meet rapidly evolving customer needs,” said Joe Gallagher, chief commercial officer at Liberty Blume.
“We will continue to be proactive in looking at further opportunities to broaden out and enrich the services we offer our customers.”
Richard Packman, managing director at PHL, added: “Joining Liberty Blume allows us to continue our legacy of client-first service while gaining access to new resources, expanded carrier relationships and international reach.
“The synergies and culture of Liberty Blume fit perfectly with the principles of the PHL directors and we’re delighted to become part of the Liberty family.”