International law firm Watson Farley & Williams (“WFW”) has advised independent insurance intermediary Global Risk Partners Ltd (“GRP”) on its acquisition of a majority stake in Green Insurance Group (“Greens”). The value of the transaction has not been disclosed.
Founded in 1973, Greens writes both commercial and personal lines, employing around 80 people. Its management team, including Chairman Clive Galbraith and Managing Director Duncan Coleman, are retaining equity and will continue to run the business.
This acquisition expands GRP’s regional hub expansion strategy to South East England, following its acquisition of Higos in the South West in 2017 and Marshall Wooldridge in the North in 2016. WFW advised on both of these deals.
GRP is an investment vehicle aimed at brokers and managing general agents (“MGAs”) trading in the UK retail and global specialty insurance markets. It is backed by Penta Capital LLP, which specialises in funding opportunities in the UK mid-market.
The WFW London Corporate team advising GRP and working with its General Counsel, Andrew Hunter, was led by Partner Nigel Taylor, assisted by Associates Simon Elliott and Richard Pyke. London Tax Partner Tom Jarvis, Employment Senior Associate Devan Khagram and Real Estate Senior Associate Robert Young also assisted.
Nigel commented: “It was a pleasure to work with GRP on another significant acquisition. That they again turned to WFW demonstrates the firm’s expertise and growing reputation for advising on mid-tier UK M&A transactions, especially those with private equity involvement”.
Mr Hunter commented: “GRP were delighted to work with Nigel and his team at WFW again on another significant acquisition and we look forward to continuing doing so in the future”.