GRP’s Newstead announces second acquisition with deal for Crendon Insurance Brokers Ltd – InsuranceNewsNet


Belonging to the GRP Newstead Insuranceheadquartered in Birmingham, acquired Crendon Insurance Brokers Ltd (Crendon), a locally based commercial brokerage firm.

Crendon specializes in providing tailored insurance packages for commercial, construction, online retail, intellectual property and data protection/cyber liability, and other niche markets where coverage can be difficult to obtain.

The company was founded in 2004 and has offices in Birmingham city centre.

Crendon CEO Neil McLauchlan said: “It came out quickly from our discussions with Sarah [Giles, Director at Newstead] that being part of Newstead was the right step for us.”

“Sarah and the team share our ambitions for future growth, and it’s also great for our customers, as we will be able to offer them the benefits of being part of the big GRP family.”

Sarah Gilles explained that the acquisition is the second to be completed since Newstead joined GRP in 2020. The other acquisition, a deal for a local broker Alford Burtonwas in March 2021.

“We are delighted to welcome Neil and his team to Newstead. Crendon is a highly respected broker and will be a perfect fit for us as we seek to build our market presence in the Birmingham area.”

“In addition to our focus on organic growth, we continue to have an appetite for new acquisitions and welcome opportunities to speak to sellers if they are considering a sale.”

All Crendon staff will relocate to Newstead and work from the Newstead office in Birmingham.

The deal has received regulatory approval and the consideration is undisclosed.

About Global Risk Partners

GRP operates retail brokerage, specialist MGA, network and Lloyd’s businesses, enabling the company to meet the growing insurance and risk management needs of its clients. GRP is an operational unit of Brown & Brown, Inc.

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