60-year-old insurance firm changes hands
The County Group, part of Global Risk Partners (GRP), has bought Worcestershire-based CJN Insurance Services (CJN).
The purchase of Tenbury Wells-based CJN, for an undisclosed sum, has received regulatory approval and will see its team of seven, including founder and brothers Peter and Stephen Short, move across to County following completion while remaining in the Tenbury Wells office.
Peter Short said: “It was a question of picking the right home for the continued development of the businesses and Stephen and I had watched County develop its successful model through the acquisition of successful local brokers.
“With the power of GRP behind them, County has a compelling proposition and the offer was too good to turn down.”
Partner Gareth Burge, head of Thursfields’ corporate team, and solicitor Joe Rollins advised on the sale.
Lisa Kemp advised on employment issues and financial and tax advice was provided by accountants Ballards.
Burge said: “We were very pleased to be asked to advise Peter and Stephen Short on the sale of CJN which has been writing personal and commercial insurance for over 60 years.
“This was the most recent in a growing number of M&A deals we have advised on involving FCA-regulated businesses.”
County Group were advised in-house and by DMH Stallard.