Grand Rapid — Acrysure LLC‘s recent global acquisition will help solidify the company’s footprint in the UK.
The transaction between Twickenham, UK-based Sutton Winson and Sutton Specialist Risk is expected to close shortly as the company awaits regulatory approval, continuing its aggressive M&A strategy, and Grand Rapids-based Acrisure in the top 10 insurance brokers in the world.
Heading into 2022, Acrisure is on track to outpace its 2021 transaction pace, said Elliott Bundy, senior vice president and chief marketing officer at Acrisure.
The company completed 122 acquisitions in North America last year, according to the Chicago-based company. Optis Partners LLCtracks M&A in the insurance industry.
“We’re nearing the end of the year, but all signs point to that trend continuing,” Bundy said.
For the first nine months of 2022, Acrisure continues to rank as the top independent insurance intermediary acquirer in North America. According to Optis Partners, the company had completed 80 of his acquisitions by the third quarter.
Since 2017, Acrisure has completed 601 acquisitions.
PCF Insurance Services LLC, based in Lehi, Utah, was the second largest acquirer with 56 deals from January 1 through September 30 this year. High Street Insurance Partners Co., Ltd. After completing 71 acquisitions last year, it ranked fourth with 30 acquisitions.
Overall, Optis Partners reported 627 insurance agency acquisitions in the first three quarters of 2022. This is his 6% drop from the same period in 2021, but it was the second highest deal flow ever for the July-September period.
“Deal flows remain very healthy,” writes the Optis Partners author in its latest quarterly M&A activity report for the securities industry, pointing to a surge in activity towards the end of 2021. Environment to end 2022. It is likely to fall below the all-time high of Q4 2021.”
In the UK, Acrisure’s agreements with Sutton Winson and Sutton Specialist Risks will facilitate its ongoing global expansion. Founded in 1955, Sutton Winson is a commercial and professional personal insurance brokerage and professional risk advisory business.
According to a statement, Acrysure plans to make further deals in the UK market “in the near future.” The company said it recently completed a $725 million Series B-2 preferred stock offering and received a $23 billion valuation, up 31% from its last preferred stock raising in March 2021.