Mon, 19 May 2025 | BUSINESS SALE
Deva Risk Group has continued its acquisitive growth with a deal for North Wales insurance broker David Vaughan & Co. The acquisition is the second in the region for Deva, which is backed by The Broker Investment Group (TBIG), following its takeover of Wrexham-based Tudor House Insurance.
David Vaughan & Co, which has offices in Dolgellau and Machynlleth, provides SME commercial and personal lines insurance. The company has been trading for 51 years and generates £1.2 million in gross written premium (GWP).
The acquisition by Deva forms part of the company’s planned leadership transition, with founder David Vaughan stepping down and his son Andrew Vaughan taking over as managing director. Following the takeover, the company will continue to operate under its existing brand, with all staff continuing at the business.
Discussing the acquisition, Deva Risk Group director Peter Goddard said that David Vaughan & Co was a strong fit for the group, highlighting its experienced team and loyal client base in North Wales.
He continued: “It’s our second acquisition in North Wales over the last 12 months and almost exactly the one year anniversary of the TBIG investment. The partnership is flourishing, they have been a massive help to us and we look forward to continuing organic growth supported by further acquisitions.”
Andrew Vaughan said that the deal would support both the company’s clients and staff in the long term and emphasised the focus on community broking and supporting family-run businesses that Deva Risk Group and TBIG share.
Vaughan added that, with Deva’s support, the company was beginning to adopt the Acturis insurance system and that it plans to make other operational improvements.
The Broker Investment Group CEO Dave Clapp highlighted that the deal was TBIG’s fourth of the year so far, demonstrating its strategy of supporting regional brokers. According to Clapp, Deva Risk is on course to exceed £14 million in GWP in 2025 and is targeting £20 million by the end of 2027.
While M&A activity has been booming in the UK insurance industry over the past few years, recent trends have lead to concerns that the wave of insurance consolidation may have peaked and that activity within the UK market may begin to plateau or decline over the coming years.
Read more:
Insurance M&A in the UK - has broker activity peaked?
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