Retail magnate and Dragon’s Den star, Theo Paphitis formally opened Yellow Jersey’s new office in Redhill on Tuesday.
During the celebrations, guests learnt of the part Theo played in Yellow Jersey’s sister company, Plan Insurance Brokers when it was just an idea.
Back in the early 1980’s when the Thatcher Government granted council tenants the right to buy their homes, Peter Georgiades needed financial advice. A young Theo Paphitis, who worked for Legal and General at the time, provided the necessary guidance and arranged a suitable mortgage. Then in 1989, when Peter and his eldest son Scott were seeking to establish their insurance business, the equity from the house purchased was used to fund their start-up.
Due to the success of Plan Insurance and a passion for cycling, 15 years later Scott and his brothers, Ryan and Grant launched Yellow Jersey, now a leading brand for cycle enthusiasts and cycling related businesses.
As well as providing the spring board for the groups success Theo and the Georgiades family also share Cypriot roots – which was great news for guests on the night with Cypriot food aplenty.
Photo credit: Anthony Upton