Green Insurance Group (“Greens”), the South East hub business of GRP, has acquired Millards Insurance Services (“Millards”), based in East Kent. The acquisition has received regulatory approval.
Greens CEO Duncan Coleman said the transaction is the Bexhill-based broker’s third this year after Reid Briggs and Clifton Morley in May, and the sixth in all since GRP’s investment in Greens in 2017.
Duncan said: “A warm welcome from all of us at Greens to Millards directors David Brown (MD) and Phil Day and their team. We are delighted to acquire a quality local business serving clients from its offices in Sandwich and Deal.”
“Millards is a significant addition to our portfolio and strengthens our considerable presence in Kent. With the support of GRP, we continue our strategy of acquiring quality brokers which serve their local communities and extending our coverage across the South East.”
Millards is a well-established broker and has been trading for over 50 years in its local market place and provides its clients with a broad range of commercial and personal lines offerings. The business will continue to trade from its current premises.
David Brown, Millards MD, said: “We are really excited to be joining Greens and with the opportunities for the further development of Millards with their support. Our clients will benefit significantly from the wider range of products and services we can offer and we are looking forward to working with Duncan and his team.”
Mike Bruce, GRP group managing director, said: “Our acquisition pipeline continues to be exceptional, evidenced by this latest transaction and the deals we currently have in due diligence. A key objective for our hub businesses is to seek out and buy quality local brokers and Greens’ track record speaks for itself. I’m confident there will be plenty more to come.”
“David Brown and Phil Day have built an excellent local brand and on behalf of GRP, I’m delighted they have chosen to continue their journey as part of the GRP family.”
The consideration for the deal is undisclosed.