The Global Risk Partner-owned CJ Insurance Group (DCJ) has announced it has acquired 100% of the share capital of Real Insurance Group Limited.
The transaction, which has now received regulatory approval, is DCJ’s second transaction in 2021.
Real Insurance was founded in 1976 and was a member of the Hedron Network, which was also acquired by GRP earlier this year.
Following the acquisition, it will not move from its current location and will “continue to serve its customers in the East Midlands”.
Stephen Ross, head of M&A for GRP, said: “Offering brokerages an option to create value from their work via a sale was part of the rationale behind our deal to buy Hedron Network, so I’m especially pleased that we have brought Real Insurance across the line so quickly to be part of DCJ.
“A number of other network members have reached out to us to discuss alternatives, which I hope will translate into further deals during the next few months, either through our hubs or as standalone acquisitions.”
David Jones, founder of DCJ, said: “Real Insurance is a very well-established business in Mansfield, and building upon our recent transaction of Lincoln based J E Sills, the deal represents a significant increase in our footprint across the East Midlands. This is a substantial acquisition for DCJ as Real is a quality business and it will give us a great platform to spread well beyond our Derbyshire roots.”
Steve Taylor, Real Insurance MD, who will continue to run the business under new ownership, noted that the opportunity to move into new ownership came “at a really good time for us”.
He said: “I am hugely excited by the prospect of working alongside David and the DCJ team to further build our presence in the East Midlands.”