Searchlight Capital Partners Acquires Majority Stake in Global Risk Partners

February 3, 2020

Willkie represented Searchlight Capital Partners in its agreement to acquire a majority stake in GRP.

On February 3, global private investment firm Searchlight Capital Partners, announced it had entered into a definitive agreement to acquire UK insurance intermediary Global Risk Partners (GRP). The deal will see GRP founders, Peter Cullum CBE and David Margrett and founding investor Penta Capital retain minority stakes in the business alongside the broader management team. The acquisition is subject to regulatory approval.

Founded in 2013, GRP has grown rapidly since inception, both organically and through acquisitions. Today, GRP is the UK’s second largest independent insurance intermediary with Gross Written Premium approaching £800m and more than 1,600 employees. GRP operates retail broking, specialist MGA and Lloyd’s businesses, enabling GRP to serve the growing insurance and risk management needs of its clients, and create value through its presence across multiple points in the distribution chain.

Searchlight is a global private investment firm with over $7 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

The London-based Willkie deal team was led by corporate partner Gavin Gordon and associates Andy Gray, Megan Gairns and Victoria Swann.