Bristol-based trade credit specialist The Channel Partnership has been acquired by insurance intermediary Specialist Risk Group (SRG) – the latter’s third swoop under new majority shareholder HGGC.

“The Channel Partnership makes an excellent addition to the specialist credentials of SRIS (Specialist Risk Insurance Solutions) and is further evidence of the support we give to our core client base, particularly in the non-service sectors such as manufacturing and construction,” noted Lee Anderson (pictured), managing director at SRIS, the retail business of SRG.

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Under the deal, financial terms of which were not disclosed, The Channel Partnership’s senior team and staff will be part of SRIS and continue to provide expert advice and solutions to manage clients’ trade credit risk. The business has been operating since 1992.

“I am delighted The Channel Partnership is joining Specialist Risk Group at such an exciting time,” commented The Channel Partnership director Tom Rolfe, who will report to Anderson. “The group will be a fantastic and natural home for our specialist business to grow and develop.

“During the sale process I was particularly attracted to the cultural alignment of the two organisations, and I am looking forward to our next steps together as we continue to support clients with their trade credit risks.”

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Similarly, Anderson added that The Channel Partnership “perfectly fits within our growing specialist retail capability,” citing the line-up’s track record and reputation for delivering significant value when it comes to trade credit insurance.

Equally pumped is SRG group chief executive Warren Downey, who stated: “The Channel Partnership is a fantastic business that is passionate about supporting their people and nurturing talent within their organisation.

“Tom and his team will fit perfectly into the ‘people first’ culture we have built at SRG, and I look forward to working with the team as part of our growing group.”