’The business is a great fit for us and I’ve been really impressed with the skills, professionalism and knowledge base of all the team,’ says director
The Broker Investment Group (TBIG)-backed Deva Risk Group has expanded its North Wales footprint with the acquisition of David Vaughan and Co.
David Vaughan and Co, which has been trading for 51 years, offers propositions for both personal lines and SME commercial insurance clients.
It has offices based in Dollgellau and Machyrilleth and currently handled £1.2m in gross written premium (GWP).
All staff will remain with the business as part of the deal and the trading brand remains the same.
The acquisition is part of a long-term succession plan, with David Vaughan retiring and son Andrew Vaughan stepping up to be managing director.
Andrew Vaughan said: “Deva Risk and TBIG are champions of community broking and an ethos we hold dear to our hearts, they are real supporters of family businesses and promotion from within and partnering with them was an easy choice.
“From day one they are helping us migrate to the Acturis insurance system, which is a top-class solution for our clients, and we have various other business system improvements in the pipeline.
“We look forward to working with all at Deva Risk Group and also the wider TBIG family.”
Increased investment
The deal comes after TBIG increased its shareholding in Deva Risk Group to 75% in September 2024.
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Two months after this transaction was announced, the broking group purchased Wrexham-based Tudor House Insurance, which specialises in home and motor insurance.
After expanding its Wales footprint with the purchase of David Vaughan and Co, Peter Goddard, director at Deva Risk Group, said: “I’m delighted with the purchase of a great broking business as David Vaughan and Co undoubtedly is.
“The business is a great fit for us and I’ve been really impressed with the skills, professionalism and knowledge base of all the team. They have a very loyal client base, testament to the great levels of customer service they provide the local community.
“As many independent brokers continue to be acquired by much larger groups and rebranded, we believe there is a gap in the market that our business can fill.
“We will remain steadfast in our business ethos of community broking and our acquisitions will remain at the heart of their community, a vision I know that TBIG share with us.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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