Global Risk Partners (GRP), a part of Brown & Brown, has bought the complete share capital of Thompson and Co (Risk Solutions) Holdings (Thompson and Co).
The consideration of the deal, which has secured regulatory approval, has not been disclosed.
Based at Solihull in the West Midlands, UK, Thompson and Co is a family-owned commercial insurer broker.
Thompson and Co was established in 1987 by Paul Thompson.
Paul Thompson along with Jennie Sutcliffe, and Baljit Thompson serve as directors in the firm.
Following acquisition, this business will continue to operate from its existing location, but all the team members, including the three directors, will move to the new ownership.
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Thompson and Co will become a part of GRP’s Retail North division.
GRP head of M&A Stephen Ross said: “Thompson and Co “is a well-run intergenerational family broker with very close links to the community it serves. The team are ambitious for future growth, and we’re delighted that all are staying on to take the business to the next stage of its development.”
Paul Thompson said: “The concept of team is clearly an important criterion for us, and the emphasis placed on becoming part of a team of businesses, a core part of the Brown & Brown ethos, made us very comfortable with the opportunity early on in our discussions with the GRP team.
“We look forward to playing an active part in accelerating our growth and footprint in the West Midlands and giving our clients a broader range of risk management and insurance services.”