The Needham Group, part of The Broker Investment Group (TBIG), has acquired a 100% stake in Surrey-based commercial insurance broker Black Lion Broking Services, continuing TBIG's active consolidation strategy in the UK regional broking market.
Financial terms of the deal were undisclosed.
The transaction was TBIG's seventh acquisition of 2025 and reflects sustained investor appetite for established, independently owned brokers with strong local client relationships.
Black Lion Broking Services is based in Walton-on-Thames and generates around £1.5 million in gross written premium. The business was founded in 2016 by Simon Church and Lee Walstow, both of whom will remain in leadership roles following completion of the deal.
Strengthening the South East footprint
From a strategic perspective, the acquisition strengthens the company's footprint in the South East. Needham already operates from offices in Weybridge and Petersfield, and the addition of Black Lion deepens its presence across Surrey. Following the transaction, the company now operates from six offices nationwide and wrote around £8.5 million in gross written premium in 2025.
For Black Lion, the deal provides access to broader insurer relationships and additional operational support. Co-founder Simon Church said joining The Needham Group and TBIG would allow the business to enhance its proposition through greater insurance access, alongside support across compliance, systems, sales and marketing. He added that discussions with other brokers already operating within the group had highlighted positive experiences around integration and post-acquisition support.
Wider trend in the industry
The transaction reflects a wider trend across the UK insurance distribution market, where well-capitalised groups continue to target regional brokers with strong local identities, recurring income and growth potential, while allowing management teams to remain in place to drive the next phase of development.
Commenting on the acquisition, TBIG chief executive Dave Clapp (pictured, left) said the deal demonstrates the continued pace of growth across the group, noting that Needham has been steadily building its local presence and customer proposition. He added that Black Lion’s addition brings the group’s total number of completed deals this year to seven, with a strong pipeline of further transactions expected to carry momentum into early 2026.
Neal Lowe (pictured, right), chairman of The Needham Group, said Black Lion brings a loyal client base and a solid reputation in the regional commercial market. He described the business as a strong fit for the group and well positioned to accelerate growth by leveraging Needham’s scale and the wider TBIG platform.
