GRP expands in Wales with Prescott Jones buy

Founded in 1991 by Ed Prescott and Gareth Jones, Prescott Jones also has offices in Bristol and Cardiff and is focused on business insurance, professions, property and construction and private clients.

Management and staff will all remain with Prescott Jones post the deal.

Head of M&A at GRP, Stephen Ross, commented: “Our expectation is that we will leverage Prescott Jones’ local connectivity in the South Wales and Western broking community to identify further opportunities for M&A.

“This is an important acquisition for GRP. Prescott Jones is a terrific business with a highly experienced, entrepreneurial management team, all of whom will be staying on and driving forward their ambitious growth plans.”

Appetite

Managing director, Prescott, said: “GRP’s owner-driver philosophy and support for businesses that have an appetite to grow is hugely compelling. We don’t feel that we will be subsumed into a big machine, rather given the resources and support to go out and do our own deals, as well as continuing to grow organically.

“I want Prescott Jones to build the same level of success enjoyed by other ‘hub’ businesses in the GRP stable, such as County Group and Higos in our part of the world.”

Adding: “It is a very exciting time for all our people here at the business, and I’m confident that GRP will prove to be excellent custodians for our brand, our people and our customers.”

Wales

GRP-owned County Group bought 100% of the share capital of Archenfield Insurance Management in Wales this April.

That deal followed the news that GRP was to be bought by US-giant Brown & Brown in a £1.48bn deal. 

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