Deva Risk Group, backed by The Broker Investment Group (TBIG), has acquired David Vaughan & Co, an insurance broker with offices in Dolgellau and Machynlleth, North Wales.
The deal is Deva’s second in the region following its acquisition of Wrexham-based Tudor House Insurance. It also coincides with the one-year anniversary of TBIG’s investment in Deva Risk Group.
David Vaughan & Co will continue to operate under its existing name, with all staff remaining in place. The firm, which generates £1.2 million in gross written premium (GWP), has been trading for 51 years and provides both personal lines and SME commercial insurance.
The acquisition forms part of a planned leadership transition. Founder David Vaughan is stepping down, with his son Andrew Vaughan taking over as managing director. Shirley Vaughan and Sarah Vaughan will also remain involved in the business.
Peter Goddard, director of Deva Risk Group, said David Vaughan & Co was a good fit for the group. He also highlighted the experience of the team and the loyalty of its client base, which he said reflected the firm’s local presence.
“It’s our second acquisition in North Wales over the last 12 months and almost exactly the one year anniversary of the TBIG investment. The partnership is flourishing, they have been a massive help to us and we look forward to continuing organic growth supported by further acquisitions.” Goddard said.
Meanwhile, Andrew Vaughan (pictured above) said the deal represented a milestone for the business following its 50th anniversary last year. He said the transaction supports the long-term future of the firm’s clients and employees.
He added that Deva Risk and TBIG share a focus on community broking and supporting family-run businesses. Vaughan said the firm is beginning to adopt the Acturis insurance system with support from Deva Risk, and that other operational improvements are planned.
Dave Clapp (pictured top right), CEO of The Broker Investment Group, noted the deal as TBIG’s fourth of 2025 and part of its strategy to support regional brokers. He said Deva Risk Group is projected to exceed £14 million in GWP this year, with a target of reaching £20 million by the end of 2027. Clapp said David Vaughan & Co would add to the group’s growing portfolio.
Last year, The Broker Investment Group completed the acquisition of a 100% shareholding in Callaway & Sons Insurance Consultants Ltd, which is based in Chelmsford, Essex. That was the firm’s TBIG’s fourth major portfolio addition in 2024.
In a separate transaction, TBIG also acquired a 49% stake in Jenkinson Insurance and Penk Insurance from the Jenkinson family. The two brokers, which collectively employ 27 staff, continue to trade under their existing brands from their offices in Rotherham and Chesterfield, respectively.
