Marshall Wooldridge, the broker that was acquired in 2016 by GRP, has itself announced the acquisition of ECS Insurance Brokers Ltd.
ECS, which is based in Sheffield, is a chartered insurance broker with a history dating back to the 1970s, and manages a gross written premium of £4.3m. According to Jason Reynolds, managing director: “95% of our insurance business is commercial, with some connected personal insurances for our clients. We have clients throughout the UK but the bulk are within a thirty-mile radius of Sheffield.”
He added: “Our strength is in our customer focus and risk solution expertise and we have developed several specialisms including a division dedicated to helping solicitors arrange insurance for properties in probate and subject to Court of Protection.”
James Hall, managing director of Marshall Wooldridge said: “This is an important acquisition of a well-run and highly successful business, which will significantly boost our presence in and around Sheffield. It is our first deal since Marshall Wooldridge became part of GRP, and we warmly welcome Jason and his 17-strong team to our business.”
Mike Bruce, CEO broking at GRP, also welcomed the acquisition as further evidence of momentum building for GRP’s regional hub strategy. “The premise behind our investment in Marshall Wooldridge, as for ABL (Northern Ireland), Greens (South East) and Higos (South West), is to create regional hubs that will themselves grow through local acquisitions of well-established quality brokers.”
“These acquisitions illustrate that there is appetite from business owners for the GRP model, which encourages management to stay at the helm of their businesses and continue to grow both organically and by acquiring local brokers by using GRP as the funding vehicle…”
“I’m delighted that ECS has chosen to join us, and look forward to seeing Jason and the team help to build our presence in the North of England.”