Chesterfield-based DCJ Insurance Group (DCJ) has today revealed it has acquired 100% of the share capital of Real Insurance Group Limited (Real Insurance). The transaction, which has already received regulatory approval, is the GRP-owned DCJ’s second transaction of 2021.
Founded in 1976, Real Insurance was a member of Hedron Network, which was itself acquired by GRP earlier this year. Stephen Ross, head of M&A for GRP, noted that offering brokerages an option to create value from their work through a sale was part of the reason why GRP bought Hedron Network, so he was especially pleased that the Real Insurance deal had been achieved so quickly.
Ross added: “A number of other network members have reached out to us to discuss alternatives, which I hope will translate into further deals during the next few months, either through our hubs or as standalone acquisitions.”
As a commercial broker based in Mansfield, Real Insurance provides a range of commercial insurance including business insurance, property owners, motor trade and manufacturers. There is no plan to move the firm from its current location and so it will continue to serve its customers in the East Midlands.
David Jones, founder of DCJ, highlighted that Real Insurance is a very well-established business in Mansfield, and that the deal builds on DCJ’s recent purchase of Lincoln-based J E Sills to represent a significant increase in its footprint across the East Midlands.
“This is a substantial acquisition for DCJ as Real is a quality business,” he said, “and it will give us a great platform to spread well beyond our Derbyshire roots.”
Meanwhile, Steve Taylor, MD of Real Insurance, who will continue to run the business under new ownership, said the deal came at a really good time for the team. He noted that his fellow vendors, Paul Mason and Helen Mason, wanted to exit the business while he was looking to take it on to a new phase of growth.
Taylor said: “I am hugely excited by the prospect of working alongside David and the DCJ team to further build our presence in the East Midlands.”
