BDO has advised Specialist Risk Group on the acquisition of CLS Risk Solutions.
Specialist Risk Group (‘SRG’) has agreed to acquire CLS Risk Solutions (‘CLS RS’), subject to regulatory approval. Established in 2010, CLS RS is a leading MGA, which specialises in providing risk solutions for real estate development projects. It provides solutions to the renewables, M&A, environmental and property development markets. Its core products include legal indemnities, latent defect, rights of light, environmental and planning law indemnities.
The acquisition of CLS RS is SRG’s fourth acquisition of 2021, following the acquisitions of KBIS British Equestrian Insurance, GB Underwriting and The Channel Partnership. CLS RS will sit within SRG’s specialist MGA business, Specialist Risk Underwriting Solutions which includes GB Underwriting and LIME.
SRG announced HGGC as its new majority shareholder in December 2020.