Crewe-based insurance broker snapped up by London firm

Cheshire insurance firm County Group has been acquired by Global Risk Partners (GRP).

The management team at Crewe-based County Group will remain with the business following the deal, which was completed for an undisclosed sum.

GRP, headquartered in London and founded in 2013, acquires and develops businesses with specialty propositions and strong profitability. The company has completed 25 acquisitions to date, 12 of which were in 2017.

County Group was set up in 2003 by CEO Dave Clapp. Last year, the broker delivered gross written premium of £72m.

Dave said: “With the firepower now available from a business the size and scale of GRP we can accelerate our ambitious plans, something that was becoming more challenging with traditional funding routes.

“Having worked closely with Peter Cullum during the past three years, we are totally bought in to GRP’s strategy and their owner driver philosophy. We have seen how other businesses they have acquired have retained their independence and made significant strides forward as part of a bigger group.”

GRP executive chairman Peter Cullum said: “Following a transformational year for GRP in 2017, we are marking the new year with an important addition to the group, building our GWP to well over £650m.

“We have high expectations for County as the centerpiece of our North West hub, and look forward to further rapid growth, bringing benefits to customers, employees and insurer partners alike.”

The corporate team at North West law firm Harrison Drury acted for County Group in the transaction.

Harrison Drury director David Filmer, who led on the deal with support from Jack Stephenson and Kerry Southworth, commented: “This deal is a strategically important addition to GRP’s portfolio of entrepreneurial businesses and means the County Group can release equity and still run the business on a day-to-day basis.

“It’s been a pleasure to advise Dave and the team at County on the acquisition. They now have the opportunity to concentrate on their plans to double over the next five years and they can continue to focus on their local service ethos.”