Case study - Waveney Insurance Brokers Limited - Business Sale
Thursday, 29 September 2016
Sale of Waveney Insurance Brokers to CCV, owned by Towergate, Europe’s largest independently owned insurance intermediary..
Waveney Insurance Brokers specialises in commercial insurance services, driving schools and driving instructor insurance, as well as the offshore and energy sectors.
MHA Larking Gowen assisted the shareholders in the sale of the business to CCV, owned by Towergate, Europe’s largest independently owned insurance intermediary.
The shareholders wanted to retain one of the group companies and some of the assets as part of the deal. We helped structure and negotiate a tax-efficient deal that took into account these complexities.
Graham Cook, director and shareholder of Waveney Insurance Brokers Limited, said
“David Whitehead and the MHA Larking Gowen team were pro-active in ensuring we received maximum value for our shares and advised on all tax matters relating to the deal. Their experience and advice were invaluable throughout the process. I would recommend using MHA Larking Gowen Corporate Finance to any other business owners looking to realise their shareholdings.”
David Whitehead, MHA Larking Gowen partner, said
“Waveney Insurance Brokers is a thriving business with an impressive history. The shareholders had done a fantastic job in building such successful company and it was a pleasure to work with them on the sale of their business and I wish them all the best for the future.”
MHA Larking Gowen provided assistance throughout the whole sale process, including:
- Negotiating with the acquirer;
- Handling financial due diligence enquiries;
- Providing personal tax advice to the individual shareholders;
- Assisting solicitors to draft the legal paperwork; and
- Co-ordinating the deal to enable the vendors to concentrate on running the business.