Deal number 33 – that’s where Global Risk Partners Limited (GRP) is now, after announcing it has received regulatory approval for its latest swoop.
Through its Northern Ireland retail broking hub Abbey Bond Lovis (ABL), GRP has snapped up a majority share in Digney Grant Ltd for an undisclosed amount. With this acquisition – the second for ABL – GRP’s gross written premium now stands at over £700 million.
“We are delighted with this deal and look forward to welcoming Digney Grant’s three directors – Anthony Boden, Sean Grant, and Paul Grant – and their 21-strong team to the group,” commented ABL managing director Maurice Boyd. “We are looking forward to working in partnership with them and helping Digney Grant’s significant growth plans.
“Digney Grant is a high-quality business with a strong reputation for excellent client service built up over 40 years of trading in its local marketplace. I am confident their clients will see further benefits from new products and services from ABL/GRP and our relationships with our blue-chip insurer partners.”
With offices in Newry and Banbridge, Digney Grant transacts commercial and personal lines business. According to director Paul Grant, the “added firepower” from the transaction will allow them to accelerate development plans in Northern Ireland.
Meanwhile GRP’s broking chief executive Mike Bruce said the Penta Capital LLP-backed firm has a strong acquisition pipeline across the UK and an effective hub strategy.
“Our unique proposition continues to be highly attractive to broking entrepreneurs looking to crystallise value from their work, while maintaining an ongoing and active role in driving business growth,” noted Bruce.
