insureFLEET, part of The County Group, based in Crewe, has been sold to Global Risk Partners Ltd (GRP).
We have recently unveiled ambitious growth plans following its recent takeover.
The County Group has been sold to an organisation specialising in insurance company acquisitions.
The move follows a period of rapid growth for The County Group which has expanded to 25 branches countrywide and a 270-strong workforce – 50 of which are based at the head office in Crewe.
The acquisition will see Dave Clapp, who founded the business in 2003, remain at the helm as CEO.
The current management team and workforce will also stay with The County Group as it moves to new ownership.
Now Mr Clapp has unveiled ambitious plans to double the size of the business over the next five years.
He said: “With the firepower now available from a business the size and scale of GRP we can accelerate our ambitious plans, something that was becoming more challenging with traditional funding routes.
“County will continue with its strategy of purchasing, nurturing and developing great businesses, increasing our footprint and delivering a high quality service to our customers across the UK.”
The County Group, one of the UK’s top 25 independent brokers, offers a range of personal and business insurance products as well as financial services.
Mike Bruce, GRP’s CEO Broking, has hailed the latest deal as a ‘strategically important addition’ to GRP’s portfolio.
He said: “We are delighted to welcome Dave Clapp and his team to GRP. County is a highly respected and well-known business and will play a key role in achieving our growth plans as GRP’s hub for the North West.”
He added: ‘This acquisition adds considerably to our breadth and depth in UK retail broking. Our 2018 pipeline remains very strong and we anticipate making further deals this year, building on the 12 deals we completed in 2017, including acquisitions through our regional hubs.”
The County Group sale becomes GRP’s second acquisition in 2018 and is the next major step in executing the Group’s UK regional hub strategy.
Peter Cullum CBE, executive chairman of both GRP and MVP – which provides funding for UK insurance brokers including County Group – said: “We have high expectations for County as the centre-piece of our North West hub, and look forward to further rapid growth, bringing benefits to customers, employees and insurer partners alike.”« Back to all news