PB Week: Private equity piles into broking
The amounts being spent and raised by insurers and brokers on acquisitions hit mind boggling proportions this week after Chris Giles, chief executive of Giles Insurance Brokers, revealed he has been given access to around £500m to grow his business writes Andrew Tjaardstra, editor of Professional Broking in the magazine's latest blog.
Giles’ backers Gresham private equity and Norwich Union sold up to private equity house Charterhouse Capital Partners for £185m including debt. Gresham bought into Giles in July 2006 and raised its
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