Marshall Wooldridge announces its second deal in a matter of days
GRP-backed Yorkshire broker Marshall Wooldridge has snapped up another regional broker, it’s second in a matter of days.
It today announced the acquisition of independent Rotherham firm RIB Group. It brings 50 years of commercial and personal lines, as well as and high net worth schemes experience with it.
RIB is headed by chairman John Jesson, aided by fellow directors Paul Barton, Andrea Beck, and Simon Jesson, part of a 35-strong staff.
Last month Marshall Wooldridge bought farm broker R F Broadley another Yorkshire-based business as it builds up its hub status for GRP.
“We said we would be looking for the right businesses, respected and established companies whose expertise and reputation has earned them a strong client base and commercial success, and RIB certainly fits that bill,” commented Marshall Wooldridge managing director Geoff Kirk.
RIB chairman John Jesson said “We are very proud of our history as a family-run firm, and of the successful business and strong client relationships we have built up over the years.
”We’re delighted that Marshall Wooldridge has recognised what we have to offer and are looking forward to making the most of the new opportunities that this deal will bring.”
Meanwhile GRP head of M&A Stephen Ross said the RIB acquisition was “another great deal for Marshall Wooldridge and clearly signals their ability to drive the business forward”.
“Our hub and spoke model has proved itself to be a key plank in our buy and build strategy in retail broking, in that we work with our regional hubs to identify high quality local businesses where the owners are keen to grow further under the GRP umbrella.
“We remain fully focused on building out our regional footprints, and despite the current challenging economic environment, we have a strong pipeline in both Yorkshire and in our other regional centres.”