The deals news from the UK insurance broker sector just keeps coming, with this latest move by GRP;
Global Risk Partners’ (GRP) Chesterfield brokerage, DCJ Group Insurance & Risk Management Limited (DCJ), has acquired Lincoln based commercial insurance broker J E Sills & Sons Limited (Sills).
Sills, founded in 1928, is one of the oldest brokers in the East Midlands, writing a range of commercial insurance including business insurance, property owners, fleet, business motor, manufacturers, office, retail and wholesalers.
Under the acquisition Sills will become part of the DCJ Group, which was itself bought by GRP in 2018.
Commenting on the deal, DCJ founder David Jones said: “It’s great that such a well-established name in the East Midlands is going to be part of DCJ. Sills has been part of the insurance landscape for nearly 100 years in this part of the world, so we are excited by the prospect of their excellent business becoming a key part of our expansion plans.”
“This is the first acquisition we’ve made since becoming part of GRP, and it will make a big and positive difference to our footprint in our geographic area.” He said that all employees including managing director David Lee will remain with Sills under new ownership.
David Lee said: “I look forward to working with David Jones and the DCJ team to take Sills onto the next level. It is a big decision after over 90 years of independence to join a larger group, but with DCJ and the support of GRP, it enables us to be much more confident about growth in what is still a very uncertain market.”
“The Sills brand and our office will remain very much part of the East Midlands business community, but we will be able to offer clients a much broader spread of products and services and maintain our local touch.”
The acquisition has been approved by the FCA and the consideration is undisclosed.