Harrison Drury has advised a Crewe-headquartered insurance business on its sixth acquisition in three years.
County Group has acquired Brady & Jones Insurance Brokers, a firm based in Colwyn Bay, North Wales, for an undisclosed sum.
The mergers and acquisitions team at Harrison Drury advised County Group on the buyout, which takes annual premium at the business to £50m and has increased staff numbers to 200 across 12 branches.
David Filmer, head of the M&A team at Harrison Drury, said: “This latest acquisition cements County Group’s position as one of the fastest growing businesses in the region. We have advised County Group on its acquisitions strategy over the last few years and it is very rewarding to see the business executing its plan meticulously to hit its ambitious growth targets.”
County said that Brady & Jones was established since 1996 and has a client mix of both personal and commercial insurance. The business was founded by Mike Jones who is to remain running the business post acquisition.
Current annual premiums are £1.3m and the company employs three staff. It will continue trading as Brady & Jones Insurance Brokers and remain in the same premises in Colwyn Bay. All staff will remain with the business.
This acquisition follows The County Group recent purchases of Whitchurch Insurance Services in May 2012 JSW Insurance Services in July 2013, Safe and Sound Insurance Centre in July 2014, Clement Gallagher in September 2014 and Chester Insurance Services in August 2015.
Dave Clapp, CEO of the County Group, commented: “We know that Mike and his team have a great reputation locally and first class renewal retention. By adding our operational and marketing expertise, plus access to a wider range of products, then we are confident Brady & Jones can go from strength to strength.”
He added: “This branch fits nicely into our strategy to provide a local broker service to communities and expanding our branch network in the Midlands, North West and Wales.”