Inevexco
Sector: Finance
Type of business: Insurance specialist for the events industry
Location: Kent
Motivation for sale:
Retirement of the Managing Director; other Directors happy to remain in suitable ongoing positions and to work alongside the acquirer to drive further growth.
Acquirer profile:
AssuredPartners is the 11th largest insurance broker in the United States with revenues of over $1billion and is now investing in firms across the UK and Ireland as part of its international growth strategy.
Marketing strategy:
This was a sector in which we had completed several deals over the previous couple of years. There are several private equity-backed consolidators in the marketplace, as well as overseas companies looking to expand in the UK. With the experience of those previous deals in this sector, we were very familiar with the buyers we should be speaking to. This is a space in which we are well connected with acquisitive parties, and we have proven we can generate significant interest in high-quality brokerage companies and drive returns for exiting shareholders.
Negotiation strategy:
Given the close relationships we have built with acquirers we are able to present businesses to appropriate parties, from small firms through to larger and specialist insurance brokers. Our experience and expertise ensured we were able to generate a swift and competitive process, while maximising shareholder value.
Vendor's comments:
“Deciding to sell is never an easy decision, but we knew from the beginning that working with AssuredPartners gave us a great opportunity to achieve our long-term goals. With the team staying in place and the wider resources available at group level, the company is well positioned to continue expanding in the years ahead.”
Acquirer's comments:
“We are very excited to partner with the InEvexco team in the next stage of their journey and are looking forward to providing them with access to our vast network of distribution opportunities across the United States to help us both achieve our growth plans.”