City law firm, Wedlake Bell, has advised Global Risk Partners Limited (GRP) on its acquisition of online commercial broker, Insync Insurance solutions Ltd.
Building omni-channel distribution capability is core to GRP’s growth and the investment in Insync is a further statement of intent to build out GRP’s capability in digital distribution and participate fully in the digital revolution in commercial broking.
The transaction completed on 10th December and is the second deal for GRP that Wedlake Bell advised on in less than a month, following on from the acquisition of RIB Group in November. The transaction involved the purchase of the business and acquisition of shares to become a majority stake holder in Insync.
Insync Insurance solutions Ltd, provides insurance for specialist businesses, particularly in the beauty and medical sectors, as well as commercial risks. Upon completion of the deal, Its Managing Director, Jon Norman, and all 70 employees will remain with the company.
The transaction was led by Wedlake Bell Corporate Partner, Nigel Taylor who was assisted by Associates Stephanie Ayre and Omar Amin, with Mike Ridsdale advising on tax concerns. Support was also required from the Wedlake Bell IP/IT, property, pensions and employment practices. The Wedlake Bell team worked closely with Andrew Hunter, Chief Risk Officer and General Counsel and Nikki Ashfield, Assistant General Counsel. The selling shareholders and management team were advised by Mark Shepherd of Shoosmiths.
Nigel Taylor, Corporate Partner at Wedlake Bell, comments: “We are delighted to have secured a second successful acquisition for Global Risk Partners. The transaction marks a significant milestone for GRP as it continues to achieve its M&A objectives for the year and enhance its client offering.”
“It is a pleasure to continually work with our client to enhance their M&A portfolio as it continues to grow from strength to strength.”
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For further information, please contact:
The Wedlake Bell team at Byfield Consultancy at wedlakebellteam@byfieldconsultancy.com or call 020 7092 3999
Karen Mosley, Wedlake Bell, kmosley@wedlakebell.com or 020 7395 3135
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