City law firm Wedlake Bell has advised Global Risk Partners (“GRP”) on its latest acquisition of 3XD Limited (“3XD”) – a provider of specialist insurance products through financial intermediaries. The value of the deal is undisclosed.
GRP is one of the largest independent insurance intermediaries in the UK and, having grown rapidly since its launch in 2013, it now controls over £700m of premium. The vehicle is aimed at acquiring brokers and managing general agents trading in specialty insurance markets – both in the UK retail sector and globally.
The Wedlake Bell Group advising on the transaction was led by Corporate Partner Nigel Taylor, who was assisted by Tax Partner Mike Ridsdale, Senior Associate Rebecca Patrickson and Associates, Stephanie Ayre and Omar Amin. The team worked closely alongside Andrew Hunter, GRP General Counsel and Company Secretary, and Nikki Ashfield, GRP Group Legal Counsel – M&A. This is the second acquisition that Nigel has advised GRP on this year alone. 3XD instructed Hill Dickinson’s Matt Noon, Corporate Partner and Phil Wallbank, Corporate Associate.
Nigel Taylor, Corporate Partner at Wedlake Bell, comments:
“We are pleased to have secured the successful acquisition of 3XD for our longstanding client GRP – as it continues its to achieve its impressive growth prospects. The deal drew on the depth and breadth of our expertise at Wedlake Bell – achieving a significant acquisition for GRP.”