Gallagher acquires Erimus Group
Gallagher has added to its branch network with its buy of Erimus Group for an undisclosed sum.
Erimus is an established retail insurance broker with a strong presence in the North East of England, serving a mainly regional commercial client base.
The Stockton-on-Tees based firm was founded in 1986, has circa 2,500 clients, and employs around 40 risk professionals. It was previously privately owned.
Gallagher detailed that it already has an extensive branch network across the UK and the acquisition of Erimus adds further quality and scale to the firm’s operations in the North East, and builds on its existing presence in Newcastle.
Leadership
Paul Davison, Group CEO and Lee Elgie, managing director will continue to oversee the business and will be supported by the existing team.
Michael Rea, CEO of Gallagher’s Retail Division, UK & Ireland, said: “We are delighted to welcome Paul, Lee and the wider Erimus team to Gallagher. This business is a great fit with our UK Retail proposition and provides us with a fantastic opportunity to expand our presence in the North East. The firm is focused on client service excellence and mirrors our own approach to doing business.”
The announcement comes just days after Gallagher revealed an Ireland launch with the acquisition of Innovu. In the UK it most recently added Devitt to its UK portfolio.
Erimus last appeared in the Top 100 Commercial Brokers in 2019 in the £12m - £19.99m banding.
Partnership
Paul Davison, Group CEO of Erimus said: “We are very pleased to become part of the Gallagher team and by joining one of the UK’s largest insurance brokers we have found the ideal partner to take the business forward.
“This development is great news for clients as they will retain the personal service they are used to from the team that they know, and can additionally take advantage of Gallagher’s scale and expertise. It is also really positive news for our colleagues who will benefit from the increased opportunities of being part of a large, global firm with impressive growth aspirations.”
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