GRP hints at further deals as it snaps up commercial broker Real

Global Risk Partners-owned DCJ Insurance Group of Chesterfield has acquired 100 percent of the share capital of Mansfield-based commercial broker Real Insurance Group. The deal will significantly increase GRP's footprint across the East Midlands.

The transaction has received regulatory approval and is DCJ’s second transaction in 2021.

Real was founded in 1976 and was a member of the Hedron Network, which was acquired by GRP earlier this year. Real provides a range of commercial insurance including business insurance, property owners, motor trade and manufacturers.

Following the deal, the business will continue to be led by its managing director Steve Taylor, and be based in the East Midlands.

Stephen Ross, head of M&A for GRP, said: “Offering brokerages an option to create value from their work via a sale was part of the rationale behind our deal to buy Hedron Network, so I’m especially pleased that we have brought Real Insurance across the line so quickly to be part of DCJ.”

He 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.”

David Jones, founder of DCJ, said: “Real Insurance is a very well-established business in Mansfield, and building upon our recent transaction of Lincoln based J E Sills, the deal represents a significant increase in our footprint across the East Midlands.”

Taylor, Real Insurance MD, stated that the opportunity to move into new ownership came “at a really good time for us.” He explained that his fellow vendors, Paul Mason and Helen Mason, wanted to exit the business while he wanted to take it on to a new phase of growth.

“I am hugely excited by the prospect of working alongside David and the DCJ team to further build our presence in the East Midlands,” he said.