Hamilton Fraser, a digital broker that is now part of insurance intermediary Global Risk Partners (GRP), has acquired Edmondsons Limited (Edmondsons).
Edmondsons is a London-based commercial lines insurance broker specialising in property and legal indemnity insurance. It has been trading since 1995 and is owned by Peter Hyne and his wife Susan, who bought the business from founder Gloria Edmondson in 1999.
The acquisition will see Edmondsons join Hamilton Fraser and form part of the broker’s growing commercial portfolio. All Edmondsons employees will also move across and continue working with the business as part of Hamilton Fraser.
Commenting on the deal, Hyne said: “We have come a long way since we began trading in 1995, and we’re very proud of the business we have built. We have a great relationship with our customers, many of whom have been with us for decades. I am confident they will be even better served as part of a larger group, with the additional firepower provided by Hamilton Fraser/GRP, as part of Brown & Brown.”
Hamilton Fraser CEO Eddie Hooker said Edmondsons will be an excellent fit for the broker’s commercial portfolio.
“I’ve worked with Peter [Hyne] previously, so it’s great that we’re joining forces again,” he said. “He and his business are highly respected. As well as building out the commercial book, we fully intend to support further growth in the high net worth book, too.”
The Edmondsons deal is the first acquisition completed as part of Borehamwood-based Hamilton Fraser since it became a part of GRP last year.
Per the terms of the deal, all Hamilton Fraser staff joined GRP, including Eddie Hooker, who remained the CEO and a shareholder at Hamilton Fraser. It also continued to trade under its existing brands, which include mydeposits, Client Money Protect, and Landlord Action.
Meanwhile, Hamilton Fraser’s acquisition of Edmondsons has received regulatory approval, and the consideration is undisclosed.
