Global Risk Partners (GRP) has acquired a majority shareholding in DCJ Group Insurance and Risk Management (DCJ), based in Chesterfield, Derbyshire, for an undisclosed sum. The deal has received regulatory approval.
According to Mike Bruce, GRP’s CEO Broking, the acquisition enhances GRP’s growing reputation as a broker of choice in relation to its hugely ambitious retail acquisition programme.
He said: “This latest transaction comes hard on the heels of the acquisition of Guardian Insurance Brokers by The County Group. Quality remains the cornerstone of GRP’s drive to become the largest independently owned insurance business in the UK regional space.”
Mike said DCJ, which writes 80% commercial lines and 20% personal lines, is a “high quality business with an impressive founder and CEO in David Jones, ably supported by his MD Chris Breeze.”
“We have been talking to David and Chris for several months, and the more we saw of the business the more we liked it. DCJ’s client focus results in superb retention and it has a strong track record of organic growth. David and Chris will continue to run the business day to day. We welcome them and their staff to the GRP Group.”
“David Jones said: “We want to grow the business, but while our organic growth is excellent, we were becoming frustrated in our efforts to grow by acquisition. We are now looking forward to accelerating our acquisition strategy alongside continued organic growth.”
“GRP’s focus is on acquiring quality businesses, and they are experts at opening brokers’ doors. I anticipate that GRP will provide us with the contacts and resources to enable us to expand much more quickly than we could have achieved on our own.”
“As the relationship has developed with GRP we’ve become more and more comfortable that DCJ will be in the best possible hands in the future. We are all very excited at becoming part of the GRP team and accelerating our ambitious vision for this business.”