The County Group, part of Global Risk Partners (GRP), has acquired Meadons Insurance Brokers Limited (“Meadons”).
Meadons, based in Market Drayton, Shropshire, has been writing personal and commercial lines insurance for over 60 years, including a specialist ‘Owzat’ Insurance scheme dealing with cricket clubs throughout the UK.
Dave Clapp, County Group CEO, said: “I am delighted that we have completed our transaction with Meadons, which is an excellent business, based in our County ‘heartland’ – the North West. We have known both of the vendors for well over 10 years now and admired their business from afar for some time.”
He added: “They are a proper relationship-led business, demonstrated by their strong customer retention rate and new business focus. The management team in County look forward to working with directors, Chris Bate and Neil Hancock, both of whom will continue to manage the business post completion.”
Chris Bate, director at Meadons said: “Picking the right home for the future development of our business was a key consideration for us and we have watched how the County Group has developed its model by acquiring great community local brokers. With the power of GRP behind them, they really do have a compelling proposition – one we found was too good to turn down.”
Alastair Christopherson, County Group MD, said: “This is one of a number of deals we currently have in due diligence and we expect to break the £100 million gross written premium barrier very soon.”
Mike Bruce, group managing director at GRP, said: “County Group continue to go from strength to strength, building their portfolio of businesses as our North West hub. I extend a warm welcome to the Meadons team and look forward to the business thriving under new ownership.”
The County Group was founded in 2003 by CEO Dave Clapp and has since grown both organically, thanks to the Group’s focus on high quality people delivering a great service to its customers and through acquisitions. County employs nearly 300 people and won Insurance Broker of the Year at the 2017 BIA Awards. County’s strategy is to continue the development of its branch network by acquiring commercial and community brokers across its region.
Global Risk Partners Limited (GRP) is a vehicle aimed at acquiring brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets. It was established in 2013 by Peter Cullum – Chairman, David Margrett – Chief Executive, and Stephen Ross – Chief Operating Officer, and is backed by private equity firm Penta Capital LLP.
GRP acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability. GRP is one of the top independent brokers in the UK.