Broker Buy-Outs: County Group Still Hungry Like The Wolf

GRP’s County Group Ltd (County) has acquired Bruce Edwards Jones Commercial Insurance (Bruce Edwards Jones). The deal is the fourth by County this year and comes hot on the heels of Meadons (Market Drayton) and Eric Rawlins (Newcastle-under-Lyme).

Alastair Christopherson, group managing director of County said: “I am delighted that we have managed to secure another fantastic business that complements our strategy. Thanks to the backing and support of GRP, we have a winning formula for vendors and long may it continue.”

Bruce Edwards Jones specialises in commercial risks and is focused on business based in North Wales from its offices in Caernarfon. The six-strong team will stay with the business, as will the Bruce Edwards Jones brand, which will become a trading name for County Group.

Aled Edwards, Partner, said: “After various discussions with Alastair and Keith Frost we felt The County Group was the right fit for Bruce Edwards Jones, enabling us to continue the growth trajectory of our business while still being able to offer an excellent personal service to our clients. We now look forward to working with the whole team over the coming years to build our presence further in North Wales.”

Mike Bruce, GRP’s group managing director, said: “County’s footprint continues to expand with a string of high-quality deals that are combining to build a very substantial hub and spoke business. We are delighted with the rapid progress made by Alastair in recent months and warmly welcome Aled and the team to the GRP family.”

Alastair Christopherson explained that County had previously completed three very successful acquisitions in North Wales and really wanted to extend the reach of the business towards Caernarfon, the Llŷn Peninsula and Anglesey.

He said: “North Wales is a great region for us and the expertise and reputation of Bruce Edwards Jones will only enhance our business further.”

The County Group 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. Bruce Edwards Jones is the 15th acquisition by GRP so far this year (2019)

 

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