Gallagher buys Devitt
MD William Hughes and finance director Tony Chapman will remain with the motorcycle specialist following completion.
Gallagher has bought Devitt Insurance Services for an undisclosed sum.
Devitt was founded in 1936 and specialises in motorcycle and motorhome insurance.
The business is based in Romford, Essex, with a further office in Ipswich and employs 130 staff.
Personal
Gallagher noted that Devitt also offers other personal lines products, such as car and home insurance, together with motor trade related commercial insurance.
In addition, Devitt brings affinity partnerships with organisations including The Caravan and Motorhome Club and BMW Motorrad to Gallagher.
Once the deal has completed, Devitt will become part of Gallagher’s UK retail operations, which places circa £3bn in premiums.
William Hughes, managing director and Tony Chapman, finance director, who oversaw a management buyout of the business from the Royal Bank of Scotland in 2011, will remain with the firm.
Reputation
Michael Rea, CEO of Gallagher’s UK Retail Division, commented: “We are delighted to welcome the Devitt team to Gallagher.
“The business has a great reputation for customer service, and its specialisms in motorhome and motorbike are a great fit for our business.
“In any transaction we always look for likeminded people and I am confident that as part of Gallagher, the Devitt team and business will flourish.”
Hughes said: “We are very pleased to find a permanent home and a fantastic partner for our business. The Gallagher team share our values and their focus on great client service fits well with what we do best – looking after our customers.
“It’s fantastic news for our team that we will be part of a market-leading global broker going forward, and this partnership will enable us to continue our track record for growth, and provide a springboard for further success.”
Last year, Gallagher bought Bollington with a view to “supercharge” its presence in the North West.
Gallagher-owned Pen Underwriting further purchased Manchester Underwriting Management in October.
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