The Quercus team, led by Andrew Clegg and Kevin Walkinshaw, has advised Boundless on the acquisition of Parliament Hill, a leading provider of membership benefits, membership services and professional indemnity insurance.
Headquartered in Brighton, Boundless is an established home, motoring and leisure association, offering attractive discounts and offers on insurance, travel, leisure activities and holidays to its c.230,000 members.
Parliament Hill also works exclusively in the membership sector. It uses the collective buying power of its clients (and their 3 million members) to negotiate outstanding terms on products and services relevant to members as individuals, within their families, in their businesses and for their careers. The business was founded by Andrew Holden who will continue to lead the business going forward.
The acquisition supports the vision of Boundless to leverage its expertise and expand into complementary activities. Financial details have not been disclosed.
Andrew Clegg, Quercus Partner said:
“Parliament Hill represents an excellent fit with Boundless given their complementary areas of focus in the member benefits sector. Andrew Holden has done an excellent job growing the brand to its current size and the financial strength provided by Boundless will help Parliament Hill to grow even faster.”
Carl Fillery, CEO of Boundless added:
“Our relationship with the Quercus team stretches back some 12 years and we are once again delighted to have benefited from their advice and insights on what represents a transformational transaction for us. These are exciting times for Boundless and our members and we very much look forward to working with Andrew Holden and the Parliament Hill team as they seek to execute on a very exciting growth plan.”