GRP to buy majority stake in Hamilton Fraser

Global Risk Partners has agreed to buy a majority stake in Hamilton Fraser for an undisclosed sum.

The Borehamwood-based broker was founded in 1996 by Simon Fox, Eddie Hooker and David Jacobs.

It provides specialist insurance and risk management for the private rented property sector and the cosmetic and aesthetic practitioners industry, with a customer reach across the UK.

Hamilton Fraser was ranked in the £20m to £30m gross written premium banding in Insurance Age’s Top 100 Independent Brokers listing for 2021.

The deal, subject to regulatory approval, will see all 223 staff move across to become part of GRP upon completion. This includes Hooker who will remain as CEO and shareholder at Hamilton Fraser.

Brands

Hamilton Fraser – the trading name of HFIS – will continue to trade under its existing brands, which include mydeposits, Client Money Protect and Landlord Action. It will sit within GRP’s digital division headed by Steve Anson, GRP’s chief operating officer.

Stephen Ross, head of M&A at GRP said: “Hamilton Fraser is a high-class brokerage with a strong commitment to digital innovation and customer centricity, built on a deep understanding of the specialist markets in which they operate.”

Adding: “We are fully invested in building up a digital powerhouse for GRP under Steve Anson’s leadership and the acquisition of Hamilton Fraser brings significant innovation, growth and talent to the unit.”

The purchase is the consolidator’s third of the year with Marshall Wooldridge having bought Goldthorpe and Alan & Thomas snapping up BIG Insurance in January.

Sectors

Hooker commented: “Finding people who believed in our business and who understood our unique position in our chosen sectors was the important part of the entire transaction.

“GRP proved to us they would be the right home for us going forward. I’m confident they are the best custodians for our business, our people and our loyal clients as we embark on the next exciting stage of our development.”

He concluded: “There is everything to play for as the economy emerges from the pandemic and with GRP’s firepower at our disposal, our expectation is that we are in for a period of rapid growth in our chosen markets.

“We believe that the additional resource and capability provided by GRP will enable us to enhance our product and service proposition and cut better deals for our clients in what is a competitive market.”

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