Fri, 05 Mar 2021 | BUSINESS SALE
London-based insurance broker Specialist Risk Group (SRG) has announced the acquisition of CLS Risk Solutions, the group’s fourth takeover of 2021. SRG was acquired by private-equity firm HGGC in December 2020 and since then has acquired The Channel Partnership, KBIS British Equestrian Insurance and GB Underwriting.
CLS is a property managing general agent (MGA) which provides risk solutions to the EU and UK real estate sectors, specialising in M&A, renewables and property development. During 2020, CLS posted a gross written premium (GWP) of more than £30 million and, in its most recent accounts, registered post-tax profits of £1.3 million on turnover of £13.2 million.
Post-acquisition, CLS’s 28-strong team will join SRG’s Specialist Risk Underwriting Solutions (SRUS) division, providing expertise in the property investment and development market.
SRG Group CEO Warren Downey said: “I am thrilled CLS Risk Solutions are joining SRG at such an exciting time in our growth journey. The team have a deeply specialist offering, which perfectly complements our goal to create a group of specialist businesses. I am looking forward to working with Rob and the team to expand CLS RS’s international capabilities and continue to serve their broker base with access to highly specialist property solutions.”
CLS MD Rob Best added: “The CLS Group has given us a great start and the sale to SRG provides our business the platform and resources to continue to unlock career development opportunities for our team. What’s more joining forces with SRG creates excellent property development and transaction opportunities for our clients.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Established in 2007, this business specialises in high-quality appointment setting and lead generation services across multiple industries, including contract cleaning, HVAC, insurance, education, and construction.
London based IFA offered with the team looking to remain and client loyalty in place, this business can continue to operate efficiently.
Midland based IFA on the market with just 110 households, this business is able to operate very profitably and you would be bolting on valuable clients and staff.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.