Consolidator buys Channel Islands broker RA Rossborough
Giles has bought Channel Islands broker RA Rossborough Limited in what it claims is its biggest acquisition to date.
The consolidator said this morning that it has snapped up Rossborough which is the largest broker in the Channel Islands.
Rossborough employs around 180 people and has offices in Southampton and the Isle of Man. The value of the deal has not been disclosed.
Rossborough, which was established in 1936, has specialisms in healthcare.
Giles said the acquisition provides the company with a new territory for the group and strengthens its branch network in the UK via the addition of Rossborough’s Southampton office.
Giles chief executive Chris Giles said: “We are delighted to announce the acquisition of Rossborough, a move which will see us expand our business into key geographical locations which have been of interest to us for some time. This is the largest acquisition in our history and reflects the strategic opportunity Rossborough provides both geographically and within the healthcare sector. They are a leading insurance broker with a well regarded brand and we look forward to working with the team.”
Rossborough chairman Steve Wigglesworth said: “Giles is one of the UK’s leading independent brokers and I believe that under its ownership there is significant potential for further development of the Rossborough business. Rossborough is a leading brand the team look forward to growing the business further with the support and infrastructure of Giles.”
Rossborough will retain its brand name post acquisition and Wigglesworth will stay on as a consultant.