A Scottish outfit specialising in providing commercial insurance cover for recruitment, leisure, construction, charities and the motor trade, it was acquired by Gresham in a £45m MBO in July 2006 out of its Manchester office.
Over the last 17 months, the company, led by Chris Giles, has grown organically and through acquisitions, buying 10 companies and trebling turnover. It has increased it office network from 17 to 32 and received further backing from Gresham in 2007 when the firm increased its stake by a further 7.5%.
Ken Lawrence, Gresham’s lead partner on the deal, said: “When we invested in Giles two years ago, its ambition was to create a national commercial insurance broker with market leading specialisms. We believe the business has achieved these ambitions and is now superbly placed to continue its success with Charterhouse Capital Partners. We have been delighted with our association with Chris Giles and his management team and wish them every success in the future.”