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Business Connect International is an Insurance Broker Acquisitions Specialist operating on behalf of some of the highest profile organisations within the Industry. I thought you might be interested in the following case-study relating to the sale of a UK Broking operation.
Set up in 1983 in a thriving market town this business made a good living for its owner and staff through the years of the harder market and less hands-on regulation. The time came however, when the softening market, regulation and declining client numbers began to affect the funds available for business growth and the business could have stagnated.
A lucky phone call resulted in the sale of this particular operation to a consolidator on an earn-out deal. The Principal retired soon after – which was entirely his choice – received his earn-out in full 18 months later, while his son, who had worked in the business since leaving school, became made Deputy MD and then MD.
Some years on and the business has flourished with the investment which the acquirer has put in – new teams have been hired bringing with them books of business; the existing agency agreements have been improved and new agencies set up. Within the local market the business is still seen as ‘the local broker’ and it is acknowledged that things are done better, faster and bigger!
The former Principal can hold his head high at the Golf Club where he still plays with many of his former clients. He knows that they are being well looked after. He also knows that his son has a great job with long-term future prospects within a growing and well respected organisation which will nurture his talents and grow him into a senior management role in time.
If any of this resonates with you – and the example is a real one – please call me for a confidential discussion about the future of your business.
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