Birrell Group, which trades as Kingsway Insurance Services, has completed the acquisition of commercial insurance brokers Managed Risk Solutions (MRSL).
The deal has received regulatory approval in what is the first acquisition by the Midlands brokers since becoming a part of Global Risk Partners (GRP) back in January.
James Birrell, director of Birrell Group, said he is “confident of landing more deals” in a bid to “build our Midlands presence”.
MRSL will retain its employees, brand, and office facilities as it continues to serve the Northamptonshire commercial business sector.
John Meadows, director of MRSL, said he was “excited by the opportunity to become part of the wider team, with additional access to the services and financial muscle of GRP”.
GRP has grown to over 1,600 employees since 2013. Steven Ross, head of mergers and acquisitions, added: “When investing in the Birrell Group, we were confident that they would quickly find more opportunities for us and MRSL gets us off to a great start.”
In June 2020 Searchlight Capital Partners, a global private investment firm, acquired a majority stake in GRP.