(April 24 – 18:15 ET) – The shareholders of Hargraft Wood Fleming Limited and Schofield Insurance Brokers Ltd, have entered into a Letter of Intent to merge their two firms subject to due diligence and final documentation.
The new entity will operate as Hargraft Schofield Inc. The chairman of the company will be J. Ross Schofield, currently president of Schofield Insurance Brokers Ltd. Ian R. Eddy, now president of Hargraft Wood Fleming Limited, will serve as president and C.E.O.
Schofield Insurance Brokers Ltd. was established in 1981 and has evolved to become a provider of risk management solutions for an impressive group of transportation clients. Hargraft Wood Fleming Ltd. was established in 1874 and has evolved to become a provider of risk management solutions for highly specialized personal and commercial clients, including an impressive group of transportation clients.
The effective date of the transaction will be April 30, 2000 and it is scheduled to close on June 7, 2000.
-IE Staff