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 the Alan & Thomas Insurance Group (“Alan & Thomas”) for an undisclosed sum. The current management team will stay with the business, which writes circa £30m gross written premium (“GWP”) annually.
Founded in 1975 and headquartered in Poole, Dorset, Chartered broker Alan & Thomas specialises in insurance for businesses and HNW individuals, with specialist divisions covering property owners, the motor trade, agriculture and estates, aviation, transportation, construction, marine trades, high value personal lines, churches and charities. The group employs 81 and has four other offices in addition to Poole, in Basingstoke, Dorchester, Gillingham and Frome.
This deal builds on GRP’s regional hub expansion strategy in the south of England for which Poole will now act as their new headquarters, and follows on from its acquisitions of Greens in the south east and Higos in the south west earlier this year. WFW also advised GRP on both these acquisitions.
GRP is an investment vehicle aimed at brokers and managing general agents 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. GRP now writes close to £120m of GWP across the south of England and anticipates further rapid growth both organically and through further deals across the UK.
The WFW London Corporate team advising GRP and working closely as always 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: “I’m delighted to have once again been able to assist Andrew and GRP on completing another important acquisition that represents the beginning of an important new era for them in the south of England. It also demonstrates once again WFW’s increasingly recognised expertise in advising on mid-market UK M&A and private equity transactions”.
Mr Hunter commented: “It was a pleasure to work with Nigel and his team once again. Their commercial and practical approach was key in ensuring the smooth and timely completion of this transaction”.