Latest broker sector deals news for you;
Global Risk Partners (GRP), a Brown & Brown company, has acquired 100% of the share capital of Amicus Solutions Holdings Ltd (Amicus), a specialist commercial insurance broker headquartered in Surrey. Amicus was founded in 2010 and has grown quickly since it began trading through its service led and personal approach to broking. The business has deep experience in its target markets of construction, manufacturing, waste and recycling, and haulage.
Following completion, Amicus will become part of GRP’s Retail Division. Managing Director Adam Scott, his fellow senior leaders Jamie Agutter and Andy Morrison, and the rest of the team will remain with the business. The office location will not change, and the highly regarded Amicus brand will continue.
Stephen Ross, Head of M&A for GRP, said: “Amicus has delivered exceptional growth thanks to Adam’s leadership and his highly entrepreneurial team. We are keen to support the team as it continues to grow its footprint in its target markets, where it has earned a great reputation for providing high quality insurance and risk management services to its growing customer base.”
“It’s great that they have chosen to become part of the GRP and Brown & Brown team, and I am confident that Amicus will see continued growth with our help and support.”
Speaking on behalf of Amicus, Co-Founder and Managing Director Adam Scott said GRP is the “best custodian for our business, our excellent team and our customers. Becoming part of Brown & Brown, the world’s sixth largest insurance brokerage, was a key consideration for us when we first sat down with Mike Bruce (GRP’s CEO) and Stephen [Ross] to discuss the future.”
“GRP has an enviable track record in helping companies like ours enhance our capabilities and provide new paths for success. The team and I are all very excited about the next chapter in our history, as we build upon our platform with both GRP and Brown & Brown support.”
The acquisition has received regulatory approval and the consideration is undisclosed.