Whiting & Partners, The Corporate Finance Network’s representative firm in Suffolk, has successfully advised the management team of its £1m buyout of an insurance brokerage.
The Whiting & Partners team, led by Chris Kelly, was approached by the management team after they had a potential opportunity to acquire the insurance brokerage from the founding shareholders. Chris Kelly and the Corporate Finance team managed to structure a suitable deal, meaning the business could be acquired by management.
Chris and his team advised on the structure of the deal to ensure Companies Act and FCA requirements were met. They also prepared projections and obtained a bank loan of £600,000 as well as liaising with solicitors on the legal documentation.
The result led to the management team being able to acquire the shares of one of the founders no longer involved in the business and pursue further growth.