Giles takes third place in Sunday Times Buyout Track 100

by Gill Montia

Story link: Giles takes third place in Sunday Times Buyout Track 100

Giles Insurance Brokers Ltd has reported that it has been listed in third place in the Sunday Times Buyout Track 100.

The independent broker was acquired in a management buyout in 2006 and has since pursued a successful organic growth and acquisition programme, doubling in size every year for the last three years.

In March of last year it was sold to private equity firm, Charterhouse Capital Partners, although chief executive, Chris Giles, retained a stake in the company.

The new owners announced plans to achieve gross written premium of £1 billion by buying small and medium sized brokers across the UK.

Twenty-two acquisitions have been completed since Spring 2008 establishing both a wider geographical presence for the group and enhancing its product and service offering.

The Buyout Track 100 table ranks Britain’s top 100 private equity-backed companies with the fastest-growing profits over a two-year period.

Two-year annual profit growth ranges between 29% and 147% and in the case of Giles’ profits have risen 116% a year from £1.4 million in 2005 to £6.3 million in 2007.

Chief executive, Chris Giles, comments: “Our goal remains to take a lead in consolidating the broking industry”.