Rollits advise on takeover of York insurance broker D E Ford
Hull and York commercial law firm
Rollits has advised the shareholders of D E Ford on their sale to
London-based PIB Insurance Brokers.
The sale, for an undisclosed sum, has
seen PIB take over the Poppleton-based firm, with backing from
global asset manager The Carlyle Group.
Originally a family business, set up
in 1976 by founder Ben Ford, D E Ford has grown to become one of
the Top 100 Chartered Insurance Brokers in the UK acting for
charity and commercial clients in York and across the country.
The deal comes just months after D E
Ford celebrated its 40th anniversary, and sees the management team
continue to lead the 65-strong team in York.
The Rollits' team was led by Corporate
Partner Nasim Sharf working with Craig Engleman (corporate and
pensions), Douglas Oliver and Chris Crystal (property), James Peel
(IP, IT and data protection) and Ed Heppel (employment).
Chris Greenall, managing director of D
E Ford, said: "The investment from PIB will help build on the
strong platform and excellent reputation that our business enjoys
and all of our team are thoroughly looking forward to the
opportunities being a part of the PIB Group will create."
Nasim Sharf of Rollits said "The
team at D E Ford has built up an impressive business over the last
40 years and it's been a pleasure working with them on this sale
and reinvestment. We wish PIB Group and the management team at D E
Ford well with their plans for continued growth organically and by
KPMG acted as financial adviser to the
shareholders of D E Ford on the sale to PIB, with KPMG's Stewart
Cape working alongside Rollits corporate team. Alastair Creers of
JWP Creers provided tax advice.
Posted on: 03/02/2017
This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.
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