Global Risk Partners boosts acquisition pipeline with double deal
Green Insurance Group, a part of Global Risk Partners (GRP), has acquired two brokerages that write a range of general insurance products, including property, commercial and personal lines, primarily in Sussex, Surrey and the London area.
The acquisitions come after the independent insurance intermediary GRP received a major investment from Searchlight Capital Partners, a private investment firm, in February.
Green has purchased 100 percent of the share capital of R T Williams Insurance Brokers (RTW), and NIB Insurance Brokers (NIB), an appointed representative of RTW. Both the companies operate from the same office in Brighton, East Sussex.
Greens, the south eastern hub business for GRP, writes personal and commercial insurance with particular strengths in property and SMEs.
GRP group managing director Mike Bruce stated that Greens has made an impressive start to 2020 and is expected to announce further deals in the coming weeks.
"All our hubs have strong acquisition pipelines," said Bruce. "Despite the challenges of COVID-19, GRP remains fully committed to its proven strategy of acquiring quality owner-managed brokers who want to generate value from their work, while remaining with their businesses to share in our successful future.”
"With Searchlight’s significant capital resources and our considerable growth ambitions, I fully expect that we will be announcing further deals in the coming weeks.”
Greens CEO Duncan Coleman added: “These two quality businesses with a strong heritage are an excellent fit for Greens and add considerably to our south eastern region footprint. All of us at Greens warmly welcome Chris Williams, MD at RTW, Leo Hetherington, MD at NIB and their teams and look forward to assisting them to rapidly accelerate their growth post purchase.”
Chris, the third generation owner of RTW, said: "The business has traded independently for seventy years but the time is right to become part of a bigger, highly ambitious group where we can take advantage of GRP’s scale, broaden our product range and further enhance the service for our clients through our dedicated team.”
