A deal has been agreed that will see a prominent Cheshire insurance broker sold to global risk management and consulting services firm Gallagher.
Macclesfield-headquartered Bollington Wilson Group along with its seven offices and 420 staff will become part of Gallagher's UK Retail Division, which works with over 1m customers through a regional network of offices based across the UK.
Founded in 1973, Bollington has grown organically and through acquisitions over the past near-on five decades, and now specialises in mid-market commercial, niche lines and SMEs across the North.
Michael Rea, CEO of Gallagher’s UK Retail Division, said: “Bollington is a hugely-respected business and culturally is an excellent fit with Gallagher.
"This thriving business has strong capability and an impressive portfolio of specialisms that are complementary to our existing business lines, and provides us with additional scale in the regional commercial broking sector.
“Its base in the North West of England will supercharge our presence in the region, and add further depth to our existing UK wide coverage through our Gallagher UK branch network.
"We have been particularly impressed with the team’s entrepreneurial mindset and focus on client service, both of which are fundamental to our way of doing business here at Gallagher. I look forward to working with Paul and the wider team as we join the businesses together.”
In the UK, Gallagher has more than 5,200 employees specialising in risk management, and insurance solutions, for corporate, commercial and personal customers.
The acquisition is subject to regulatory approval.
Paul Moors, group CEO of Bollington, a portfolio company of private equity firm Inflexion, added: “It was clear from the start that we had found a fantastic partner in Gallagher.
"Michael and his team spoke the same language as us and Gallagher’s focus on employing and developing its employees to provide great client service fits well with our ethos.
"Having led Bollington for over 20 years, I am delighted that our business will become part of such a market-leading global broker, and this partnership will enable us to continue our track record for growth, and provide a springboard for further success.”
