Global Risk Partners (GRP) has acquired Swansea-based commercial broker Prescott Jones.

Stephen Ross, head of M&A at GRP, hailed the deal as a ‘great opportunity’ to build out GRP’s footprint in South Wales and the West: “Our expectation is that we will leverage Prescott Jones’ local connectivity in the South Wales and Western broking community to identify further opportunities for M&A.”

Prescott Jones was founded in Swansea in 1991 by Ed Prescott and Gareth Jones, and has grown to become one of the largest independent brokers in Wales and the West. As well as its Swansea HQ, the firm has offices in Bristol and Cardiff. The main areas of focus are business insurance, professions, property and construction and private clients.

Ross added: “This is an important acquisition for GRP. Prescott Jones is a terrific business with a highly experienced, entrepreneurial management team, all of whom will be staying on and driving forward their ambitious growth plans.”

Management and colleagues will all remain with Prescott Jones post deal, and managing director Ed Prescott said: “We don’t feel that we will be subsumed into a big machine, rather given the resources and support to go out and do our own deals, as well as continuing to grow organically.

“I want Prescott Jones to build the same level of success enjoyed by other ‘hub’ businesses in the GRP stable, such as County Group and Higos in our part of the world. It is a very exciting time for all our people here at the business, and I’m confident that GRP will prove to be excellent custodians for our brand, our people and our customers.”

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