SRG buys trade credit specialist

Specialist Risk Group (SRG) has bought trade credit specialist The Channel Partnership, Insurance Age can reveal.

The move is SRG’s third deal since it announced investment from HGGC in December 2020. The business has also bought equestrian broker KBIS and construction specialist GB Underwriting.

According to SRG, The Channel Partnership was founded in 1992 and provides clients with expert advice and solutions to manage their trade credit risk.

The business is based in Bristol and its senior team and staff will join SRG’s retail business, Specialist Risk Insurance Solutions (SRIS).

Tom Rolfe, director at The Channel Partnership, will report to Lee Anderson, managing director of SRIS.

Deals
Earlier this month, SRG group chief executive officer, Warren Downey, told Insurance Age that the business was gearing up for a busy year with further deals in the pipeline.

SRIS also includes Miles Smith, Square Mile Broking, David Codling and Associates and the TUE Special Risk team plus Insolvency Risk Services.

Anderson commented: “The Channel Partnership makes an excellent addition to the Specialist credentials of SRIS and is further evidence of the support we give to our core client base, particularly in the non-service sectors such as manufacturing and construction.

“Tom and his team have a great track record and reputation for delivering significant value for its clients through its deep understanding of the trade credit market. The Channel Partnership perfectly fits within our growing specialist retail capability”.

Culture
Downey added: “The Channel Partnership is a fantastic business that is passionate about supporting their people and nurturing talent within their organisation.

“Tom and his team will fit perfectly into the ‘people first’ culture we have built at SRG and I look forward to working with the team as part of our growing Group.”

Rolfe concluded: “I am delighted The Channel Partnership is joining Specialist Risk Group at such an exciting time. The Group will be a fantastic and natural home for our specialist business to grow and develop.

“During the sale process I was particularly attracted to the cultural alignment of the two organisations and I am looking forward to our next steps together as we continue to support clients with their trade credit risks.”

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