UK-based Global Risk Partners (GRP) has agreed to buy a majority stake in Hamilton Fraser for an undisclosed sum.
Borehamwood-based Hamilton Fraser offers specialist insurance and risk management services to the private rented property sector and the cosmetic and aesthetic industry.
Founded by Simon Fox, Eddie Hooker and David Jacobs in 1996, Hamilton Fraser has 223 employees and caters to customers across the UK.
Upon completion, which awaits regulatory approval, Hamilton Fraser will become part of GRP’s digital division headed by GRP chief operating officer Steve Anson
Hamilton Fraser will continue to trade under its existing brands, which include mydeposits, Client Money Protect and Landlord Action.
Additionally, GRP will retain all Hamilton Fraser’s employees who will continue to be with the business.
GRP M&A head Stephen Ross 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.
“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.
“Our pipeline is as strong as it has ever been and we expect to be making further announcements during Q1 2022. We remain keen to talk to brokers and MGAs looking to create value and become part of one of the most dynamic, growth-oriented businesses in the UK broking.”
Hamilton Fraser CEO and Eddie Hooker said: “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.”