A&T will be GRP’s Southern Hub
Alan & Thomas will continue to grow organically and through acquisitions
The deal is GRP’s eighth transaction since March 2017
“Having considered all opportunities, GRP was the stand out solution for us as we seek to execute the next chapter in our journey. This is a great chance to build upon the strong foundations and legacy we have created over many years.” Julian Boughton, CEO, Alan & Thomas
Global Risk Partners Ltd (GRP), the specialist investment vehicle for brokers and MGAs, has acquired a majority stake in Alan & Thomas Insurance Group (Alan & Thomas). The consideration is undisclosed.
Chartered Broker Alan & Thomas was founded in 1975 and writes circa £30m GWP annually. It specialises in insurance for businesses and HNW individuals. Specialist divisions include property owners, motor trade, agriculture and estates, aviation, transportation, construction, marine trades, high value personal lines, churches, charities, and private medical and employee benefits. All the current management team will stay with the business.
Mike Bruce, GRP’s CEO Broking, said Alan & Thomas, which employs 81 people and is headquartered in Poole, Dorset, will become the ‘Southern Hub’ for GRP. It has four other offices, Basingstoke, Dorchester, Gillingham and Frome.
“I am delighted to welcome Julian Boughton and his team to GRP. GRP now has complete coverage of the South of the UK following our acquisitions of Higos (South West) and Greens (South East). We now write close to £120m of GWP across this part of the UK and expect further rapid growth both organically and through further deals.”
He added: “GRP’s retail hub model will benefit customers by enabling them to benefit from further improvements in service and a broader set of propositions, in line with our overarching strategy that focuses on creating value for our customers, as well as our insurer partners and investors.”
Julian Boughton said, ”GRP ‘s entrepreneurial approach is refreshing. Their model plugs straight in to our 2020 vision and beyond and is a logical alignment for us as we go into the next decade of our development. The combination makes us a stronger business, which will benefit our customers, staff and suppliers.”
He added: “Partnering with GRP allows us to ‘fuel up’ as we seek to facilitate our growth plans. We have a selective pipeline of opportunities which we are looking to overlay with GRP’s intelligence, aims and objectives.”
Mike Bruce said: “We have accelerated our acquisition strategy during 2017, and it remains our priority to build distribution through our network of regional UK hubs. Alan & Thomas is a high- quality business with a management that is fully-focused on value creation and I look forward to a long and successful partnership.”