Global Risk Partners (GRP) was on an acquisition surge in 2017 – and just weeks into the new year, the company has already announced its second deal.
This time the specialist investment vehicle for brokers and MGAs has moved for Crewe-based The County Group to strengthen its regional hub strategy. The acquisition has picked up regulatory approval but the consideration is undisclosed.
“We are delighted to welcome Dave Clapp and his team to GRP,” said Mike Bruce, GRP’s CEO broking. “The County Group is a highly respected and well-known business and will play a key role in achieving our growth plans as GRP’s hub for the North West.
“This acquisition follows the funding round we completed before Christmas, and adds considerably to our breadth and depth in UK retail broking. Our 2018 pipeline remains very strong and we anticipate making further deals this year, building on the 12 deals we completed in 2017, including acquisitions through our regional hubs.”
The County Group was founded back in 2003 by CEO Dave Clapp and now employs 278 people. It writes both SME and personal lines insurance and delivered GWP of £72 million last year.
“With the firepower now available from a business the size and scale of GRP we can accelerate our ambitious plans, something that was becoming more challenging with traditional funding routes,” said Clapp.