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  • Overview

    We advised the shareholders of Weald Broking Management Limited, the holding company of Weald Insurance Brokers Limited, in relation to the sale of the company to a newly incorporated special purpose vehicle (SPV) set up by Broker Network Limited, who are on the acquisition trail consolidating a number of insurance brokers. As our clients received a proportion of the consideration in cash, plus a stake in the SPV, the deal involved negotiation over the share sale aspects, as well as documents relating to the continuing shareholding in the SPV. This included a put and call option for the sale by our clients of such shares in the future.

    Specialising in property-related and commercial risks, fleet, motor and motor trade insurances and policies for high net worth individuals, Weald employs over 40 people and has a gross written premium of over £14m.

    This transaction represented the sixth acquisition of a “regional powerhouse” by Broker Network and demonstrates our established expertise in dealing with complex business transactions.

    The transaction team at Thomson Snell & Passmore was lead by Corporate Partner, Nick Gabay assisted by Joseph Hartland, Ben Stepney, a Senior Associate in the Employment team and Catherine Linsell, a Solicitor in the Commercial Property team.

    Nick Gabay commented on the transaction: “The acquisition works for all parties. Broker Network gains another valuable partner to build on their recent expansion and the Weald shareholders have realised the value in the hard work they have put in over the years, with many of such shareholders rolling some of their proceeds into new shares in the SPV acquirer, incentivising them to continue to grow the value of the business going forward”.

    Weald managing director Gibbs added: “We’re thrilled to have partnered with Broker Network and are excited at the opportunities our new relationship will bring for the benefit of our clients. The partnership allows us to strengthen our broking footprint in the wider region and focus our strategy on continued growth.”

    If you would like further information in relation to Mergers and Acquisitions please contact Thomson Snell & Passmore Corporate & Commercial Partner, Nick Gabay.

  • Related Services

    Commercial

    We draw on our extensive legal, commercial and industry expertise when working with you to achieve your strategic objectives.

    Acquisitions & disposals

    We advise institutional investors, operating businesses, the public sector, estates and private individuals and have experience in acquiring portfolios of properties from administrators or receivers. We have experience in all manner of capital transactions acting for a variety of businesses and individuals with sales and purchases of stand alone or portfolios of commercial properties.

Get In Touch

By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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General Private Client UpdatesGeneral Commercial UpdatesConstruction UpdatesCourt of Protection UpdatesAgriculture & Rural Affairs UpdatesCommercial Property UpdatesEmployment UpdatesDispute Resolution UpdatesCorporate & Commercial UpdatesCharities & Not for Profit UpdatesFood & Drink UpdatesEducation UpdatesTransport & Logistics UpdatesFamily Business & Owner Managed Businesses Updates

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