Advisor leads sale of fast-growing specialist insurer

Grant Thornton corporate team

Grant Thornton’s North West corporate finance team has advised 3XD Limited, a retail insurance intermediary based in the Ribble Valley, on its sale to Global Risk Partners Limited.

The Grant Thornton team comprised partner Pete Terry, associate director Chris Ryan, and manager Jacob Leone. Legal counsel was provided by Hill Dickinson’s Matt Noon and Phil Wallbank.

Lancashire-based 3XD provides specialist insurance products to clients through a range of distribution channels including independent financial advisers.

London-based GRP is a group aimed at acquiring brokers and managing general agents (MGAs) trading in the UK retail and global, speciality insurance markets. The deal sees 3XD join the wider group.

3XD chief executive David Fulluck, chief operating officer Graham Kelsall, and the rest of the 19 staff will remain with the business under the ownership of GRP.

The acquisition has been approved by the FCA and the consideration is undisclosed.

Chris Ryan said: “There continues to be healthy demand for businesses which have invested strategically in the systems and digital infrastructure which allow them to keep pace with change. 3XD has done just that, combining it with a reputation for a customer-focused approach developed over a decade.

“We’re incredibly pleased to have advised David and the rest of the management team on this transaction and have no doubt the business will go from strength to strength as part of a wider group.”

David Fulluck said: “We are very excited by the opportunity for 3XD within GRP and the growth prospects being part of a large group brings.”

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