IMAS acted as the sole financial adviser to Brokerbility Holdings Limited (“Brokerbility”) on the sale of the business to Clear Insurance Management (“Clear”).
Brokerbility is the parent company of a group encompassing broking, network and technology businesses. The group has a unique business model comprising of two leading Chartered broking businesses (BHIB Insurance Brokers and Churchill Insurance Consultants), a leading network for high quality regional brokers and distinct owned technology operations through its Brokertech and Brokerbility Information Gateway (BIG) subsidiaries. The group enjoys a high profile within the industry as a leading voice for the independent broker, with a senior team recognised as thought leaders within the broking community and able to use the reach of the group to drive industry change.
Clear is a leading independent Chartered insurance broking group established in 2001 and an Insurance Times Top 50 broker, with more than £17.3 million of turnover in the year to October 2018. The group has made multiple acquisitions in recent years, including fellow Brokerbility network members MPW and Morrison Edwards. Brokerbility is Clear’s 27th acquisition and its largest to date. Clear is backed by ECI Partners LLP.
IMAS was retained by Brokerbility in early 2019 to advise the group and its shareholders on its sale to Clear, a business with which Brokerbility had a longstanding working relationship through Clear’s membership of the Brokerbility Network.
IMAS advised Brokerbility on all aspects of the transaction, including assisting the business throughout a rigorous due diligence process conducted by the buyer.