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- Jul-11 CBG
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- 01-12-2010 LARGEST ACQUISITION IN GILES’ HISTORY
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- 07 01 2009 LRG acquisition
- 09-02-09 GILES RANKED THIRD IN SUNDAY TIMES
- 05-12-08 Arnott
- 18-11-08 SBP Group
- 08-07-08 Carrick Neill
GILES COMPLETES FIRST ACQUISITION OF 2009 STRENGTHENS PRESENCE IN GREATER LONDON WITH ACQUISITION OF LRG INSURANCE SERVICES LTD
Giles Insurance Brokers Ltd (“Giles” or “the Group”), the rapidly expanding independent insurance broker, today announces the acquisition of LRG Insurance Services Ltd. This is Giles’ first acquisition of the year and follows 21 acquisitions in 2008. Ashley Cooper, currently Managing Director of LRG, will take on the position of Regional Director within Giles.
As a regional broker with offices in Rickmansworth near Watford, LRG Insurance will strengthen Giles’ presence in the region. In addition to the acquisition of Dickson Insurance Brokers Ltd in October 2008, LRG will provide local expertise and market share across locations of strategic importance to the growth plans of the business.
LRG Insurance was established in Rickmansworth, Hertfordshire, in 1964 and built its reputation on the high level of personal service it provides to the commercial market. The business has grown to a team of 15, with a young and dynamic management team and a good track record of delivering growth.
Chris Giles, Chief Executive of Giles commented, “The acquisition of LRG Insurance is a further significant step in developing our position around London as we seek to grow our presence in the region and it is great to welcome Ashley Cooper and Richard Grainger on board. We see great opportunities in acquiring small brokers, driven by young, ambitious management teams, and LRG Insurance with its attractive commercial business is fully aligned with this strategy. We look forward to further strengthening and growing the Giles Group during 2009.”
Ashley Cooper, Managing Director of LRG Insurance, said: “At LRG we have an excellent management team who are well positioned to take the business forward within Giles. We look forward to working with Giles to continue to develop our commercial business lines both on a regional and national level.”
ENDS
For more information, please contact:
Citigate Dewe Rogerson
Sarah Gestetner
Nicola Smith
T: 0207 638 9571
Notes to editors
Giles Insurance Brokers Limited was formed in 1967 and has built a reputation for offering an informed and professional service to industrial, commercial and personal clients throughout the UK.
LRG is the third recent purchase in the region following the acquisition of SBP Chapman Stevens in High Wycombe and Dicksons in Watford last November.
The company currently employs in excess of 1000 people in offices across the UK, including the major business centres of Glasgow, Leeds, Manchester, Birmingham, Cardiff and London.
With dedicated teams involved in specialist areas of business, Giles Insurance Brokers has been appointed to act as insurance brokers to several professional bodies, trade associations and membership organisations.
The investment from private equity firm Charterhouse in March 2008 will allow the company to escalate its acquisition strategy and build a business with £1 billion of Gross Written Premium.
Citigate Dewe Rogerson
Sarah Gestetner
Nicola Smith
T: 0207 638 9571
