The County Group [County], part of Global Risk Partners [GRP], has acquired 100% of the share capital of CJN Insurance Services Limited (CJN).
CJN, based in Tenbury Wells, Worcestershire, has been writing personal and commercial lines insurance for over 60 years. The business has a team of 7 and all, including directors Peter and Stephen Short will move across to County following completion, remaining in the Tenbury Wells office.
Alastair Christopherson, County managing director, said: “I am delighted that we have completed our transaction with CJN, which is an excellent business, based in our Regional ‘heartland’. We have been in discussion with the vendors for some time and through this period we have watched the business continue to succeed in what have been challenging times.
He added: “Peter and Stephen have directed a relationship-led business, demonstrated by their strong customer retention rate and new business focus. The management team at County look forward to working with them.”
The County Group has a number of deals in due diligence and expects to add to its existing business portfolio shortly.
Peter Short, director at CJN said: “Picking the right home for the future development of our business was a key consideration for Stephen and I. We have watched the County Group develop its successful model by acquiring great community local brokers. With the power of GRP behind them, they really do have a compelling proposition - one we found was too good to turn down!”
Mike Bruce, Group CEO at GRP, said: “County Group continue to go from strength to strength, building their portfolio of businesses as our North West hub. I extend a warm welcome to the CJN team and look forward to the business thriving under new ownership.”
The acquisition has received regulatory approval and the consideration is undisclosed