Brown & Brown reveals £1.48bn price tag for GRP
The deal with US-broker Brown & Brown will see Searchlight, Penta and founders Cullum and Margrett exit as investors.
Brown & Brown will pay $1.96bn (£1.48bn) for consolidator Global Risk Partners according to a New York Stock Exchange filing.
The deal, announced this morning (8 March 2022), is subject to regulatory approval but expected to complete in Q3 this year.
Brown & Brown was founded in 1939. The company is listed on the New York Stock Exchange and has a market cap of over $19bn. It posted $3.1bn of revenue in 2021 and net income of $587.1m.
GRP was established in 2013 by Peter Cullum, David Margrett
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