InsightsNews - Corporate, Banking and Finance - POSTED: July 29 2020
Brachers’ deal activity continues with sale of Wisemans Insurance Services
Brachers has reported steady work in mergers and acquisitions, with the completion of another deal. Recently, the firm advised on the sale of Chertsey Road Limited to Character IB Limited.
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Chertsey Road Limited is the parent company of Wisemans Insurance Services Limited, an insurance broker based in Ashford, Middlesex and a member of Cobra Network. Character IB Limited is the insurance broking subsidiary of Character Investments Limited.
Seven shareholders were represented in the deal which saw Jonathan Summers stay on as a director of Wisemans, and two other shareholders stay on as non-directors.
Claire said: “While this deal was partly delayed by the COVID-19 crisis, we were able to use technology to overcome distance and shielding issues and work collaboratively with Cripps Pemberton Greenish. We wish Wisemans Insurance Services the best of luck with the new owners.”
Jonathan added: “Becoming part of Character Investments Limited means we can benefit from group synergies and look forward to growing Wisemans Insurance Services. We are very pleased to get the sale completed and we thank Claire and her team at Brachers for the hard work and effort they put in to achieving this great result for us.”
Brachers has found that the current climate has not deterred deals in recent months, with the firm carrying out several deals, including advising on the sale of The Roberto Group to Colour Wovens, and the sale of JIB Insurance Brokers Limited to Ethos Broking.
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