The deal marks GRP’s third buy in 2022 so far

Insurance intermediary organisation Global Risk Partners (GRP) has agreed to buy a majority stake in Borehamwood-based digital broker Hamilton Fraser, subject to regulatory approval.

Hamilton Fraser was founded in 1996 by Simon Fox, Eddie Hooker and David Jacobs. It employs 223 staff, all of whom will continue with the business and join GRP on completion of the deal.

The broker provides specialist insurance and risk management for the private rented property sector, as well as the cosmetic and aesthetic practitioners industry. It has a customer reach across the entire UK.

Following the transaction, Hamilton Fraser will continue to trade under its existing brands, which include Mydeposits, Client Money Protect and Landlord Action, and will sit within GRP’s digital division, headed by Steve Anson, GRP’s chief operating officer.

Stephen Ross, group head of M&A at GRP, said the firm was impressed with the “sheer quality of [Hamilton Fraser], which has an outstanding track record of success in its chosen niches and is a superb fit for GRP”.

This deal is the third acquisition for GRP so far this year. In January 2022, it supported Marshall Wooldridge to buy Goldthorpe Insurance Brokers and helped Alan and Thomas purchase Bournemouth Insurance Group.

Strong pipeline

Ross continued: “Our pipeline is as strong as it has ever been and we expect to be making further announcements during Q1 2022.

”We remain keen to talk to brokers and MGAs looking to create value and become part of one of the most dynamic, growth oriented businesses in UK broking.

“Hamilton Fraser is a high-class broker with a strong commitment to digital innovation and customer centricity, built on a deep understanding of the specialist markets in which [it operates].

“We are fully invested in building up a digital powerhouse for GRP under Steve Anson’s leadership and the acquisition of Hamilton Fraser brings significant innovation, growth and talent to the unit.”

Eddie Hooker will remain as chief executive and shareholder at Hamilton Fraser.

He said: “Finding people who believed in our business and understood our unique position in our chosen sectors was the important part of the entire transaction.

”GRP proved to us [it] would be the right home for us going forward. I’m confident [it is] the best custodian for our business, our people and our loyal clients as we embark on the next exciting stage of our development.

“There is everything to play for as the economy emerges from the pandemic and with GRP’s firepower at our disposal, our expectation is that we are in for a period of rapid growth in our chosen markets.

“We believe that the additional resource and capability provided by GRP will enable us to enhance our product and service proposition and cut better deals for our clients in what is a competitive market.”