High net worth broker Gauntlet Insurance Services (Gauntlet), part of Global Risk Partners (GRP), has announced its first deal since it was acquired by GRP in 2019.
Gauntlet has agreed to purchase 100% of the share capital of Bolton-based Three Sixty Insure Ltd (Three Sixty), another Specialist Private Client broker. The deal is subject to regulatory approval.
Founder Sam Cowen, his wife Julie and the rest of the team will stay with the business under new ownership.
Three Sixty was established in 2008 as a niche Private Client Broker, also providing Business Client insurance, and according to Gauntlet MD Steve Buckingham, the team has built up an impressive nationwide client base.
“Three Sixty is a quality business and a superb fit with Gauntlet. We share the same commitment to providing the very best customer service for discerning clients, and we look forward to helping them take the business to a new level of growth and success with our support.”
He added: “Sam, Julie and their excellent team will continue to operate from the office in Bolton and will remain very much open to business, giving us a footprint in the North West of England.”
“I’m thrilled that Three Sixty is our first acquisition, it’s a fantastic business with the potential to accelerate its growth.”
London-based Gauntlet is a leading private client broker specialising in the insurance of historic, fine town and country houses, fine art collections, jewellery, farms & estates, prestige vehicles and yachts. Founded in 1982 it is responsible for covering assets valued at more than £8bn.
Sam Cowen said: “We have thought long and hard about the next steps for Three Sixty, and felt that becoming part of Gauntlet was the best possible move for us and our clients, who will derive significant benefits from being part of Gauntlet and the wider GRP group.”
“Steve has given us every incentive to continue to grow under new ownership, and we are very excited about the future for our business”.