Seventeen Group announce acquisition
Seventeen Group has announced that, effective 18th June 2019, it has acquired Graybrook Insurance Brokers Limited based in Essex for an undisclosed sum.
Formed in 1972 by founder Bill Hulse, Graybrook is a specialist medical malpractice and Professional Indemnity broker focusing on schemes for clinical organisations and associations.
Seventeen Group is a privately owned insurance Group which includes James Hallam insurance brokers, Touchstone Underwriting and 4Sight Risk Management. As part of James Hallam is a specialist team within the healthcare sector, ‘Pro Med’, headed by Charly Winder. Graybrook and ProMed will integrate to create a leading medical sector insurance team within the UK and international market.
Commenting on the deal, Bill Hulse highlights that “joining forces with James Hallam was a natural step for Graybrook given the many similarities between the two organisations. We care passionately about our clients and are now able to offer a broader range of services as part of James Hallam and Seventeen Group. All of my team will remain with the business and we look forward to working with ProMed and the wider James Hallam team in the coming years.
Seventeen Group Chief Executive Officer Paul Anscombe adds “We are delighted to welcome Graybrook into our Group. It is rare to see the level of knowledge and care that Bill and the team have achieved and the acquisition gives us a wonderful opportunity to bring together two highly experienced medical malpractice teams under one roof”.
Seventeen Group were supported by Beechbrook Capital in this acquisition.
Beechbrook Capital is a specialist lender providing innovative and flexible financing solutions to support fast growing SMEs across northern Europe. Tim Johnston, Investor Director at Beechbrook comments: “We have thoroughly enjoyed working with Seventeen Group and we are delighted to be the new funding partner for this market-leading business. We very much look forward to supporting the group with its further growth plans over the coming years.”