Acquisition-hungry Global Risk Partners Limited (GRP) clearly hasn’t lost its appetite for commercial brokers – this morning announcing a deal for SB2 Limited, which is the holding company of KPTI Ltd, trading as IS Insurance Solutions (KPTI).
KPTI is a commercial lines broker with a specialism in property owners’ and the combined commercial markets. Its base is in Kingsbury, North West London, and its holding company, SB2, was formed back in 2019. The business is led by directors Shamit Malhotra and Bram Vyas.
As part of the GRP acquisition, all directors and employees will remain and the brand and office will be retained. It will become part of the GRP retail division.
Explaining the deal, GRP’s head of M&A Stephen Ross described the KPTI business as “smart” and “forward-looking”.
“Bram and Shamit are skilled practitioners who value good and trusted relationships with their customers and existing insurer partners,” he said. “They and their team see a great opportunity to deliver growth as part of GRP, and we warmly welcome them to the group.”
Meanwhile, Vyas and Malhotra issued a joint statement outlining that GRP’s track record for support prompted the move.
“The added attraction of being part of the Brown & Brown team made it an easy decision for us to place our future with the group,” they said.
“We are very excited about the new opportunities this deal provides for us, in particular the additional range of products and services we can provide for our customers, drawing on the strengths of GRP in the market.”
The deal has already received regulatory approval, and the consideration is undisclosed.
What are your thoughts on GRP’s acquisition spree? Let us know in the comments, below.
