Thu, 26 May 2022 | BUSINESS SALE
Insurance and risk management firm DCJ Group, a part of Global Risk Partners, has announced the acquisition of SM Commercial Insurance Brokers. The deal represents DCJ’s third takeover since becoming part of GRP in 2018 and the group says that it is planning further acquisitions.
The deal sees DCJ acquire 100 per cent of Chesterfield-based SM Commercial’s share capital, with the company’s founder and managing director Steve Higgins to remain in place, along with the rest of the SM Commercial team, post-acquisition.
Higgins said that the acquisition represented “the opportunity to make a step change in the scale of our ambitions for the future.” He added: "As part of DCJ, with the extra leverage provided by being part of GRP, we will be in a great position to support our clients as the economy emerges from the pandemic."
DCJ Group CEO Chris Breeze, meanwhile, called SM Commercial “a highly respected community broker with a reputation for high-quality client servicing.”
The acquisition follows two deals completed by DCJ Group with the backing of GRP last year. In March 2021, the group completed its first acquisition with a deal for Lincoln-based commercial insurance broker JE Stills & Sons Ltd, which was followed in July by the acquisition of Mansfield-based commercial broker Real Insurance Group Ltd.
Following the completion of its takeover of SM Commercial, which has already received regulatory approval, CEO Chris Breeze has said that the group will continue to target acquisitions of insurance brokers. The group says it is targeting acquisitions of dynamic firms that are focused on growth and client outcomes.
Breeze said: “I am keen to talk to vendors who want more from their business and are keen to build out their footprint. DCJ is fully aligned to vendors who want to do more with their businesses, and, alongside our parent GRP, we create the best possible conditions for brokers to thrive and prosper.”
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