Digital managing general agent Ripe has acquired holiday homes insurance specialist Schofields Limited.

The deal, subject to customary closing conditions, marks Ripe’s first entrance into the holiday homes space, building upon its expertise in leisure products including motorhomes, caravans, park homes, golf and boat insurance.

Established in 1984, Schofields is a family-run business, based in Bolton, offering a personalised service for specialist holiday homes insurance for properties in the UK and overseas. With over 10,000 policyholders, the company has a strong 40-year heritage in the sector.

Jonathan and Philip Schofield, who have been instrumental in driving the business over the past two decades will continue to lead the business on a day-to-day basis alongside the Ripe team. Keith Schofield will remain as a consultant to the business to support the transition of ownership.

It is Ripe’s third acquisition following private equity backing in 2021.