It’s been a busy time for Global Risk Partners. The investment vehicle aimed at brokers and MGAs has been making several high-profile investments in recent weeks – and then the firms it has become involved with have been making acquisitions of their own.
For the latest example, look no further than Alan & Thomas Insurance Group. It was back on November 01 that we told you about
GWP’s investment in the firm – and now it too has made its own acquisition.
The company has this morning announced a deal for Commercial and General Insurance Services Ltd, based in Ferndown, near Bournemouth. According to CEO Julian Boughton, it is the first of several deals in the pipeline.
“We are delighted to welcome John, Derek and the CGI team to A&T,” he said. “They have a great business and this is a coup for us. It marks our first investment since we became part of the GRP Group and we are talking to a number of other businesses where we feel there is a joint value creation opportunity.”
The Commercial and General team is 10-strong and they will all stay on with the business, according to Boughton.
The firm, founded 13 years ago, provides risk management advice and bespoke insurance solutions throughout the south of England and writes approximately £4 million of GWP annually.
“The decision to join Alan & Thomas was an easy one to make,” said directors John Cran and Derek Bugler. “Their reputation for value creation made them our number one choice. They have a track record for delivery and investment in the businesses they have purchased and this was a real attraction for us.”
Related stories:
Global Risk Partners snaps up Alan & Thomas Insurance
Higos snaps up Mellerup’s General Insurances Ltd
