Acquisitive brokerage Acrisure LLC said on Wednesday it has agreed to buy UK brokerage Sutton Winson Ltd. and Sutton Specialist Risks Ltd., which has a combined staff of 175.
Terms of the deal were not disclosed.
Twickenham, England-based Sutton Winson is a privately held trading, employee benefits and personal lines company and employs 140 people. Its sister company, Bristol, England-based Sutton Specialist Risks, is a managing general agent, principally affiliated with QBE Insurance Group Ltd., and employs 35 people.
According to their most recently filed accounts, Sutton Winson reported £9.7 million ($11.3 million) in revenue in 2021 and Sutton Specialist Risks reported £4.5 million.
Acrisure, which has grown rapidly through acquisitions over the past five years, is the world̵
7;s eighth largest brokerage, according to Business insurances latest ranking. In the first nine months of 2022, it was the most acquired brokerage in the US, with 80 deals announced.Source link
