UK-based insurance intermediary Global Risk Partners (GRP), a unit of Brown & Brown, has bought John Henshall for an undisclosed sum.
John Henshall trades as Henshalls Insurance Brokers (Henshalls).
Set up in 1967, it is a commercial broker with headquarters in Newport, Shropshire and offices in Shrewsbury and Stafford.
The firm specialises in food and drink, manufacturing, construction, charities, sports and hospitality sectors.
It also offers bus, coach, and minibus insurance via its two other insurance businesses, Bayliss and Cooke and Coachline.
Henshalls’ directors Mark Freeman, Martin Pitchford, Dave Williams, Anthony Hughes, and Neil Atkinson along with their remaining team will continue to work with the firm.
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GRP head of M&A Stephen Ross said: “Henshalls is a really good fit for our retail business giving us a valuable presence in Shropshire and Staffordshire.
“That part of the world is not widely served by brokerages, so we are pleased that Henshalls, which has been trading successfully for many years, has chosen to join our retail division.”
Henshalls managing director Mark Freeman said: “We have operated as a proud independent broker since 1967 and decided that now was the right time to join GRP. This will enable us to continue our historical growth and expand our footprint in this area of the UK. In our discussions with Stephen Ross (GRP’s head of M&A) and Mike Bruce (GRP CEO), it became clear that joining GRP was the best future option for our business, our excellent team and our customers.
“It provides us with a strong platform on which to build the next exciting chapter for the business. The added strength provided by Brown & Brown’s ownership of GRP, and particularly its ‘forever company’ ethos, was a major factor behind our decision to join the business.”
Last month, GRP bought bpw Insurance Services, a retail insurance broker.