GRP has acquired a minority stake in dental and life science specialist broker All Medical Professionals Ltd (All Med Pro).
Stephen Ross, GRP’s group head of M&A, explained that All Med Pro is a member of Hedron Network, and taking a minority stake is a first for GRP since Hedron was acquired from Marsh earlier this year.
“We said at the time of the Hedron deal that we were keen to talk to network members who wanted to secure minority investment in their businesses, and it’s great to announce the first such deal with All Med Pro.”
Stephen noted that the All Med Pro deal follows the acquisition of 100% of Real Insurance, another Hedron Network member, in July 2021.
“We offer M&A facilities to network members wishing to sell up or attract minority investment. Our highly experienced acquisitions team is keen to provide these services to brokers looking to create value from their life’s work, and we would like to talk to more network members who are thinking through their options.”
All Med Pro will continue as a member of Hedron Network, and continue to benefit from the products and services the network offers.
All Med Pro is based in Swindon and distributes dental, vet, and life science products as well as commercial and personal lines. The business was founded by Adam O’Keeffe and Tom Chaston in 2011 and has grown rapidly, employing 13 people.
Stephen said: “Adam and Tom are highly motivated broking entrepreneurs with a strong niche proposition and excellent relationships with insurers. We are really excited to be able to invest in their business and look forward to watching it continue to grow under their leadership.”
All Med Pro co-founder and director Adam O’Keeffe said he and Tom Chaston had “been considering how best to fund further investment in the business and GRP’s acquisition of Hedron came at the perfect time.”
He said: “We are a fast-growing niche broker with ambitious growth plans. 10 years after launching All Med Pro, we’re very proud of what we have achieved, and, looking ahead, there is great opportunity to become one of the leading niche brokers in the UK.
He added: “With GRP providing significant new investment, we expect to supercharge our growth while retaining full control, which is vitally important as that means no impact on the day to day running of the business.”