Management buy-out for family-owned insurance business

Client overview

Project Cover is an insurance brokerage based in Essex, with a long-standing reputation for delivering tailored insurance services to both individual and commercial clients across various sectors. 

How we supported our client

Affinia was initially approached to assist the owners with a management buy-out aimed at preserving the legacy of the business. We started by conducting a valuation of the company, sought tax clearance for the transaction and collaborated closely with the client and their legal team on the share purchase agreement, ensuring that every detail was meticulously addressed to facilitate a successful transaction for all parties involved.  Our primary focus was to structure the deal in the most tax-efficient manner possible, while also providing comprehensive estate planning advice.  

The Results

Stuart Sheldrick, Head of Corporate Finance, commented: “We always find satisfaction in helping businesses navigate succession challenges through management buy-outs. This approach perfectly rewards those who have significantly contributed to the growth of the business and provides a nearly seamless transition from both employee and client perspectives. In the case of Project Cover, it was a pleasure to assist one of the Directors in taking over the family business and advancing development plans. We look forward to seeing what lies ahead for Project Cover and are excited to support them as they continue to grow.”