Specialist Risk Group (SRG), a London-based specialist insurance broker, has announced the acquisition of a UK trade credit specialist, The Channel Partnership.
Financial details of the deal have not been disclosed.
Founded in 1992, the Channel Partnership provides clients with expert advice and solutions to manage their trade credit risks. This specialized area of insurance is of particular value in the current economic climate, allowing companies to continue to trade on credit with confidence, be it their UK or export customers.
Based in Bristol, The Channel Partnership's senior team and staff will join SRG & # 39; s fast-growing retail business, Specialist Risk Insurance Solutions (SRIS). Tom Rolfe, Director at The Channel Partnership, will report to Lee Anderson, SRIS CEO.
Following the announcement in December of SRG's new majority shareholder, HGGC, SRG also made two additional acquisitions in January. On January 5, SRG bought the Newbury, England-based broker KBIS British Equestrian Insurance, and on January 14, SRG bought GB Underwriting, a managing director providing property and liability solutions for brokers whose clients are active in the building, construction and associated specialist professions .
Commenting on the latest acquisition of SRG, Anderson said, “The Channel Partnership is an excellent addition to SRIS's specialist qualifications and further demonstrates the support we provide to our core customers, particularly in the non-service industries such as production and construction. "
"The group will be a fantastic and natural home for our specialist business to grow and develop," said Tom Rolfe, director at The Channel Partnership. "Throughout the sales process, I was particularly drawn to the cultural alignment of the two organizations and look forward to our next steps together as we continue to support clients with their trade credit risks."
About Specialist Risk Group
Specialist Risk Group (SRG) is an integrated group of insurance intermediaries who arrange specialist insurance for companies and individuals operating in the UK and internationally. The group serves more than 42,000 end-policyholders across multiple industries and specializes in creating solutions to challenging risk transfer questions. SRG is owned by the management team and HGGC (subject to regulatory approvals), a mid-market private equity firm based in Palo Alto, California.
Source: Specialist Risk Group (SRG)
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