Another Global Risk Partners (GRP) firm has wrapped up a key acquisition after Thomas Sagar Insurances today revealed a deal for Thomas Cook & Son Insurance Brokers.
Burnley-based Tomas Cook is a commercial lines broker with a specialism in hi-tech engineering and the entertainment industry established back in 1946. Its MD, John Cook, and his team are set to switch to the Sagars business, which was itself acquired by GRP 12 months ago.
The consideration for the deal is undisclosed.
“John (Cook) is staying with us after completion and he and the team will move into our office in Burnley,” explained John Meadows, MD of Sagars.
“This is an excellent transaction for Sagars and adds significantly to our local reach. The ability to complete deals of this kind was one of the reasons we became part of GRP. I’m confident we will continue to acquire other businesses in our area which have a sound strategic fit.”
GRP group MD Mike Bruce added that the combined business should continue to flourish and that there would be other deals in the pipeline.