Towergate has bought GR Patrick & Company. The Surrey-based broker specialises in care and nursing homes, and pubs and restaurants. It has a total of £16m in GWP.
Geoff Patrick, managing director of GR Patrick, will continue to lead his team of 55 from the company's New Malden offices.
Patrick commented: “Towergate will bring a wealth of experience to further enhance our underwriting agency model. They will also provide GR Patrick with two additional layers of distribution opportunity. First of all, we will be able to tap into existing business that lies within the Towergate operation, as well as linking in with the huge network of intermediaries who currently support Towergate products and services.”
Peter Cullum, executive chairman of Towergate, said: “Geoff will bring an excellent business with an experienced management team. This acquisition builds on our existing care home portfolio, and also dovetails with our Medical Insurance Agency business, who handle the insurance requirements of doctors, dentists, vets and charities.”
