Wiltshire-based law firm Royds Withy King acted as lead advisers to the sellers of one of the largest providers of insurance services, Higos Holdings Limited, on its sale to Global Risk Partners (GRP) for an undisclosed sum.

Higos, which employs around 300 people and has 20 offices in Wiltshire (Calne and Devizes), Somerset, Dorset, South Gloucestershire, Devon and Hampshire, was founded by managing director Ian Gosden in 1990.

Mr Gosden and his management team, who will receive shares in the buyer owned by GRP, will continue to lead the day-to-day running of the business.

Katharine Mortimer, a partner in Royds Withy King’s corporate and commercial team, said: “We were delighted to advise and support Ian and his team on the sale of Higos to GRP. We dealt with around 80 employee shareholders as part of the negotiations and are pleased that they will continue to have a stake in the new company as it begins its next chapter. This is an interesting time for the financial services market as many firms look to acquire robust businesses which will enable them to grow their market share, gain competitive advantage and strengthen their client proposition.”

Ian Gosden said: "After 26 years of steering my own ship I am delighted for Higos to join forces with GRP, who are committed to supporting our core values of community broking and independent professional advice. With the support of GRP, and my senior management team, l am excited for the future and the increased opportunities we can now take advantage of. I would like to thank the team at Royds Withy King for the important role they played.”

GRP is an investment vehicle aimed at brokers and managing general agents (MGAs) trading in the UK retail and global specialty insurance markets. It is backed by Penta Capital LLP, which specialises in funding private equity opportunities in the UK mid-market sector.

Nigel Taylor, a partner at Watson Farley & Williams LLP, who acted for GRP, said: “It was a pleasure to work with GRP on yet another significant acquisition. I look forward to continuing doing so going forward as they continue to expand.”