Acquisition of Five Insurance Brokers
Five Insurance Brokers Limited has been acquired by Global Risk Partners (GRP), a serial purchaser in the insurance broking sector.
Five hope to use the deal as a springboard to achieving further growth in the coming years.
Rob Shurety, one of the Directors said “At a time when we are seeing rates hardening across our specialist sectors, it is important that we obtain the best possible deals for our clients, maintaining the level of cover they need at the right price. As part of GRP, we’ll improve our access to senior decision makers within insurers, which will help us strike better deals for our clients.”
The Ensors team, led by Simon Martin, were approached to provide corporate finance advice once the Heads of Terms had been agreed. Our role involved assisting with the financial due diligence process, reviewing the Share Purchase Agreement, and most of all, reviewing the working capital in order to negotiate the working capital target and completion mechanism with the buyer.
Lindsay Drain said ‘As a company director I have worked with Ensors for over a decade dealing with both company and personal matters. They are exceptionally professional, responsive and offer excellent advice. They recently dealt with the sale of our Company and they were excellent throughout what was an elongated and tricky negotiation. I could not recommend them enough’