Charterhouse acquire Giles

by David Masters

Story link: Charterhouse acquire Giles

Charterhouse Capital have purchased Gresham’s 41% stake in Giles for an undisclosed amount.

Charterhouse are also thought to be in talks with Aviva-owned Norwich Union about purchasing their 7.5% stake in Giles.

Chris Giles, Giles’s chief executive, currently owns a 20% stake, and according to Gresham, plans to stay with the company.

Andy Marsh, a partner at Gresham, said of the sale: “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 it now superbly placed to continue its success with Charterhouse Capital Partners.”

Chris Giles added: “Charterhouse has clearly realised that the business has significant further growth potential.”