M&A Deal Summary

Brown & Brown Acquires GRP Group

On March 7, 2022, Brown & Brown acquired insurance company GRP Group from Searchlight Capital Partners

Acquisition Highlights
  • This is Brown & Brown’s 87th transaction in the Insurance sector.
  • This is Brown & Brown’s 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2022-03-07
Target GRP Group
Sector Insurance
Buyer(s) Brown & Brown
Sellers(s) Searchlight Capital Partners
Deal Type Add-on Acquisition

Target

GRP Group

London, United Kingdom
GRP Group is an independent insurance intermediary. GRP operates retail broking, specialist MGA, network, and Lloyd’s businesses, enabling the Group to serve the growing insurance and risk management needs of its clients. GRP Group was founded in 2013 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States

Category Company
Founded 1939
Sector Insurance
Employees16,152
Revenue 4.7B USD (2024)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

Brown & Brown provides insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association, and individual clients. Brown & Brown was founded in 1939 and is based in Daytona Beach, Florida.


DEAL STATS #
Overall 97 of 111
Sector: Insurance M&A 87 of 98
Type: Add-on Acquisition M&A Deals 93 of 107
Country: United Kingdom M&A 2 of 3
Year: 2022 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Orchid

Vero Beach, Florida, United States

Orchid is a managing general underwriter providing specialty property and casualty insurance products to homeowners, high net worth individuals and small businesses, primarily in coastal regions throughout the U.S. and the Caribbean. Orchid provides proprietary insurance solutions for hard-to-place risks to a growing, national network of retail agents and other strategic distribution partners. Orchid was founded in 1998 and is based in Vero Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-29 Patrick Quinlan Insurance

Dublin , Ireland

Patrick Quinlan Insurance is a boutique-style commercial insurance brokerage, offering meaningful professional commercial insurance advice, services and solutions to a wide range of commercial segments. Patrick Quinlan Insurance was established in 2008 and is based in Dublin, Ireland.

Buy -

Seller(S) 1

SELLER

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.


DEAL STATS #
Overall 8 of 16
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 7
Country: United Kingdom M&A 1 of 3
Year: 2022 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 M&M Food Market

Mississauga, Ontario, Canada

M&M Food Market is a premium, restaurant-quality frozen food retailer that brings convenient food choices to Canadians. M&M products include delicious and convenient options across virtually every food category including appetizers, prepared meals, seafood, meats and poultry, vegetables, sides, bakery, and desserts, and come in formats ranging from individual portions to family-sized options. M&M Food Market was founded in 1980 and is based in Mississauga, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 TouchTunes

New York, New York, United States

TouchTunes operates an out-of-home network of interactive entertainment systems in North America. The Company offers digital-downloading and pay-per-play commercial jukebox to bars, restaurants, retailers, and entertainment centers. TouchTunes was founded in 1998 and is based in New York City.

Sell -