GRP carries its acquisition momentum into 2019 with its second purchase of the year

Global Risk Partners (GRP) has chalked up another acquisition with the purchase of equine broker Shearwater, its second of the year.

The Hertfordshire-based broker was founded and is still headed by Jeremy Lawton, who will continue to run the business, GRP said. The broker, with its 36-strong team, already has a strong position in the equestrian market through its ownership of Lonmar, a provider of bloodstock insurance. 

GRP’s growth has been achieved following a string of acquisitions, including the largest to date in January 2018, when it snapped up £80m premium income County Group.

At the beginning of this month, the Peter Cullum-backed consolidator snapped up Trimulgherry Investments Ltd (TIL) for an undisclosed sum.

“We have had a successful start to the year and we will continue to look for outstanding businesses such as Shearwater, which will benefit from integration and enable management to focus on growth”, GRP’s managing director Mike Bruce said.

The pivate equity-backed business plans to make further acqusitions this year, Insurance Times was told.