Law firm RPC has advised Assured Partners on the acquisition of leading Scottish broker Borland Insurance Limited. The transaction completed on 1 February 2021.
AssuredPartners, one of the largest and fastest-growing insurance agencies in the United States, was founded in 2011 and has to date acquired in excess of 325 agencies. It is now the 11th largest broker in the United States and this latest acquisition adds to its expanding footprint in UK broking following acquisitions in Birmingham and Chester.
The latest acquisition, the third on which RPC have assisted Assured Partners, following the successful acquisitions of Hettle Andrews, and Red Insure and Everest, will strengthen Assured Partners’ presence in the UK, with Borland being Assured Partners’ first acquisition in Scotland. As part of the deal, all 30 employees of Borland will remain in their roles under the leadership of Borland’s chief executive John Silcock.
Founded in 1995 with offices in Edinburgh, Aberdeenshire, Fife and Colchester, Borland provides insurance solutions to a wide spectrum of commercial and private clients. With a particular emphasis on providing bespoke insurance programmes to protect against all forms of business risk ranging from property exposures to general liability/employer’s liability, contractors all risks to professional liability.
The RPC deal team was led by James Mee, working closely with Chris Brierley, and supported by colleagues across the firm. Borland Insurance Limited was advised by MacRoberts LLP (led by partner David Wylie).
Commenting on the transaction, James Mee said: “This was our third deal working with the Assured Partners team. It has been a great pleasure supporting them as they build out in the UK market.
“2021 promises to be a busy year for further deals across the insurance market, with a number in the pipeline and several already announced.”
David Heathfield, CEO of AssuredPartners in the UK, said: “We’re grateful to James and his team for their ongoing assistance, especially in the tricky circumstances faced last year. We’re looking forward to accelerating our growth via acquisition throughout 2021 as activity and opportunities in the sector continue to emerge.”
RPC’s corporate insurance team specialises in insurance market transactions for all kinds, bringing together dedicated expertise and a deep knowledge of the sector, and advising on the full range of commercial, regulatory and transactional matters. RPC is a longstanding adviser to the global insurance market.