The County Group (County) has completed the acquisition of Eric Rawlins & Company Limited (Rawlins), an insurance broker with over 70 years trading in the Stoke on Trent area.
Rawlins is headquartered in Newcastle-under-Lyme, and employs 27 people. The business distributes personal and commercial insurance and has specific expertise in contractors, property owners, business and fleet risks.
Commenting on the deal, County CEO Dave Clapp said: “This is a marquee signing for us. Rawlins is a well-respected broking firm that has stood the test of time and become one of the largest independent brokers in Stoke on Trent and the surrounding area.”
“We are delighted to have added Rawlins to our group. We now handle in excess of £20million GWP in the Stoke area, bringing significant scale to our North West hub”
He explained that Rawlins MD Phil Alcock and the rest of the directors will be staying with County post acquisition and working on a smooth integration. “Once that is done, we will look at ways to further develop this great business.”
Alastair Christopherson, County Group MD, added: “This is a landmark transaction for us as it now takes our Group GWP to in excess of £100 million, which is a significant milestone in our own development.”
Phil Alcock said: “We have watched from afar as County Group has grown and developed their model over the last few years. When deciding on the right home for our business, and as part of our own due diligence on County, we took references from a number of vendors of businesses they have bought previously and the feedback was very positive.”
“The decision has become easier as a result of the dealings we have had with Dave and Alastair through the due diligence process. It was an important strategic decision for us to join another broking group after such a long time as an independent but we are sure we have made the right choice. We look forward to working with all of their team and helping to take the business on the next stage of its exciting growth journey.”
Mike Bruce, GRP group managing director, said: “County has delivered another great deal.
He said: “Part of the attraction of GRP for growth-hungry businesses like County is that we provide them with the support and capital to enable them to follow through and deliver their strong acquisition pipeline. I’m delighted to welcome Phil Alcock and all the Rawlins people to GRP.”