IMAS acted as the exclusive financial adviser to Luker Rowe & Co Limited (“Luker Rowe”) on the sale of the business to Clear Insurance Management (“Clear”).
Luker Rowe Chartered Insurance Brokers began trading in 1989. The team of 40 provide a range of business and personal insurance totalling a GWP of £18m, with revenues in excess of £3m per annum. The broker has over 30 years’ experience providing insurance for the audiovisual and events industry and is a member of the National Outdoor Event Association, providing insurance for its event professionals. The management team and staff, led by Principal, Chris Luker and Managing Director, John Dunn will all remain with the business.
Clear is a leading independent Chartered insurance broking group established in 2001 and an Insurance Times Top 50 broker, employing more than 470 staff across 12 trading locations. The group has made multiple acquisitions in recent years, including Brokerbility Holdings, the parent company of the Brokerbility Network, of which Luker Rowe is a longstanding member. Clear is backed by ECI Partners LLP.
IMAS was retained by Luker Rowe in 2020 to advise the group and its shareholder on its sale to Clear, a business with which Luker Rowe had a longstanding relationship through both sides’ common membership of the Brokerbility Network.
IMAS advised Luker Rowe on all aspects of the transaction, including assisting the business throughout a comprehensive due diligence process conducted by the buyer.