Insurance specialist investor Global Risk Partners (GRP) has acquired Yorkshire-based independent brokerage firm Marshall Wooldridge.
The investment vehicle has bought Marshall Wooldridge and is taking a majority stake in the company, according to a report by
The Business Desk.
Following the completion of the transaction, Marshall Wooldridge managing director James Hall and his team will continue to lead the business.
The deal with GRP will allow Marshall Wooldridge to access more financial resources, network and expertise to accelerate the company’s expansion.
“The investment from GRP provides an excellent platform to fast track our growth agenda and will benefit our clients, staff and insurer partners,”
The Business Desk quoted Hall as saying.
Established in 1973, Marshall Wooldridge is a commercial and personal lines broker that handles more than £20 million in premiums. It has offices in Leeds and Rotherham.
Financial news website
Bdaily reported that KPMG advised Marshall Wooldridge shareholders on the sale of a majority equity stake to GRP.
“There is no doubt that having the backing of a leading industry player in the form of GRP will signal a major transformation for the company,” Christian Mayo, partner and head of corporate finance at KPMG in Yorkshire, was quoted as saying in the report.
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