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Debt services company Brightside has made three acquisitions: Aust Holdings, which owns a 75 per cent stake in Group Direct, the remaining shareholding in the insurance broker, in addition to Injury QED, a provider of medical reports and associated services to the legal profession.

The trio of deals will enable Brightside to move into premium finance and insurance-related medical reporting, which are more profitable areas of insurance broking. The transactions will also bolster the group’s cash reserves as Group Direct made £3.4 million profit from revenues of £23.3 million to the year ended 31 December 2007.

Norwich Union Investments and Stena have agreed to buy a £10.6 million stake in the enlarged group.

Arron Banks, Group Direct insurance director, said: “These acquisitions will give Brightside shareholders an opportunity to be involved in a proven business. Furthermore the backing of Norwich Union and Stena clearly endorses this.”

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