Business Weekly - Cambridge, UK

The move closely follows the purchase of neighbouring broker, King's Lynn-based Fenland, revealing Equity's rigorous East Anglian expansion strategy. The vendors have not revealed a sale price.

Founded in 1948, Hedley has been owned and managed by Terry and Lynne Beet for the past 25 years. They and three further members of staff will continue to trade from the Market Place premises which will be re-branded as Equity Insurance Brokers. Office hours will be extended to allow Saturday morning trading.

Terry Beet said: "The support from Equity will ensure, particularly in an increasingly competitive market, we can maintain the quality service our personal lines and commercial clients have come to expect."

Equity Insurance Group is based in Brentwood, Essex. Its national network comprises almost 70 branches, four regional offices and two UK-based customer contact centres.

Mark Woods, Equity's branch network operations director added: "Hedley fits our acquisition criteria of well-established high street-based broking businesses."