Paul Napier division buought by Burley Group
The Wolverhampton division of insurance broker Paul Napier has been sold to Yorkshire-based Burley Group.
Corporate finance company Castle Square led the negotiations, allowing Paul Napier to exit its non-core business.
Kevan Shaw, director at Castle Square, said: "We are delighted to have assisted Paul Napier achieve its strategic objective of successfully exiting this non-core business unit.
"The business is more of a fit with the business of its new owners The Burley Group, under whose direction I am sure the business will go from strength to strength."
Founded in 1953 by Joseph William Burley, Burley Group specialises in providing commercial insurance advice and broking services to corporate clients.
The Wolverhampton division of Paul Napier provided commercial policies to businesses in the Midlands, operating independently from its main City-based Lloyds insurance brokerage.
