- Press Centre
- 14-04-08 Shephards Insurance Brokers acquired
- 10-04-08 Giles acquires first North Eastern Broker
- 04-04-08 Giles scores hat-trick in the Midlands
- 02-04-08 New Scottish MD for Giles
- 01-04-08 Sutton Barnard joins group
- 31-03-08 Sights set on £30 Manchester Business
- 3 Brokers acquired in 1 week
- Charterhouse acquires Giles Insurance Brokers
- New Distribution Director
- Lester Bashford & Webb
- Hedges & Rose
- Expanding in Wigan
- Crosbie & Jack
- Kerwin Smith joins Giles Group
Ambitious broker embarks on Manchester expansion drive after
£500 million investment
£500 million investment
Giles Insurance Brokers has targeted £30 million in premium income for its Manchester base following a massive injection of private equity cash.
Manchester has emerged as a key market for Giles and the ambitious insurance broker is set to embark on a significant growth programme in the North-west after being furnished with a £500 million war chest by private equity firm Charterhouse Capital Partners.
Charterhouse and Bank of Scotland Corporate have provided Giles with £500 million of funding in order to accelerate Giles’ consolidation of smaller commercial brokers across the UK.
The company aims to achieve its ambitions in the North-west through a strategy of acquisition and organic growth.
Giles is now seeking to create a strong team for its Salford base and is seeking to make a series of key senior appointments as it bids to meet its target of attracting £30 million in premium income within three years.
Steve Smith, Managing Director – North for Giles said: “The broker market in the Manchester area is still very fragmented and we are aiming to bring some stability to this important market through a programme of targeted acquisitions.
“Giles now has over 30 locations over the UK but we see Manchester as key to our sustained, long term growth.
“We are now looking to hire some of the very best people in the industry in order to progress our ambitious plans for Giles in Manchester and we expect to be in a position to announce some senior appointments in the very near future.
“We aim to make Giles one of the leading brokers in the North-west and are actively working to attract both the very best people and high quality acquisitions.”
As well as its expanding Manchester business, Giles has a strong commercial and motor industry business based in Wigan.
Giles is one of the UK’s fastest growing commercial insurance brokers and Charterhouse’s backing will allow the company to escalate its acquisition strategy and build a business with £1 billion of Gross Written Premium.
