GRP’s County Group (County) has acquired Business Insurance Specialists (BIS).
BIS is based in Llandudno and is a commercial broker that specialises in insurance for the motor trade and construction.
County’s CEO Alastair Christopherson said the transaction, which has received regulatory approval, is an excellent addition to County’s portfolio which will enhance the Group’s presence in North Wales.
“This deal is the fifth we have completed this year and demonstrates our ambition to grow through acquisition as well as organically. BIS is a well-respected local business, and we welcome Roger Stevens (MD), fellow director Andrew Halstead and their team to the Group.”
He said that all staff including the directors will continue with the business and the office in Llandudno will remain open for business.
Commenting on the deal, Roger Stevens said: “I’m a strong admirer of County Group and feel confident that it will prove to be the best possible custodian for our business, our people and our clients.”
“We fully intend to take advantage of the additional firepower provided by County and GRP to enhance the products and services we provide our clients and achieve substantial further growth for the business under new ownership.”
Alastair Christopherson said that he remained keen to talk to vendors who are considering their exit options or looking to accelerate their growth as part of a larger group.
He noted: “We offer a menu of options to vendors, and as our acquisition track record underlines, we provide an outstanding home for excellent brokerages in the North West and Wales.”
The consideration is undisclosed.