GRP has acquired a majority stake in DCJ Group Insurance and Risk Management, for an undisclosed sum.
The broker will now look to grow acquisitively with consolidator GRP behind it, according to DCJ founder and CEO David Jones.
Chesterfield-based broker DCJ has been active for almost 20 years. It writes 80% commercial lines and 20% personal lines. Its commercial areas of business include construction, retail and hospitality, haulage, manufacturing, social and welfare and technology.
Jones said: “We want to grow the business, but while our organic growth is excellent, we were becoming frustrated in our efforts to grow by acquisition. We are now looking forward to accelerating our acquisition strategy alongside continued organic growth.”
GRP CEO Mike Bruce, pictured, said: “We have been talking to David and Chris for several months, and the more we saw of the business the more we liked it. DCJ’s client focus results in superb retention and it has a strong track record of organic growth. David and Chris will continue to run the business day to day. We welcome them and their staff to the GRP Group.”
The acquisition of DCJ is GRP’s 32nd purchase since the consolidator was established by Peter Cullum in 2013. It follows hot on the heels of County Group’s first purchase since being acquired by GRP.
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