Moorcrofts advises MRIB Group on acquisition
Moorcrofts LLP has advised MRIB Group (“MRIB”) on the group’s acquisition of a specialist and chartered insurance broker for the UK’s health and fitness sectors, Independents Insurance (“Independents”).
MRIB is a leading chartered insurance broker with expertise in corporate insurance, private client insurance and financial services. The acquisition provides MRIB with a team with expertise in the UK’s health and fitness insurance sectors, including risk management programs for gyms and trampoline parks. Independents is well-established as a leader in the trampoline park insurance sector and is also partnered with the International Association of Trampoline Parks (IATP).
MRIB’s Managing Director, Edward Finch, said:
“I am incredibly excited to bring Independents into the MRIB Group team. We are looking forward to developing our offering and strengthening our position as an insurance broker of choice.”
Moorcrofts’ head of corporate and partner, Teri Hunter, led the deal with support from Will Pearce and Mohsin Shabbir. Employment support was provided by Matt Jenkin and Nicola Whelan, property support provided by Julia Ferguson and commercial contract support provided by Tim Astley, Usha Guness and Henry Morritt.
MRIB’s Financial Director, Elaine Woodall, said:
“We have known Teri Hunter for several years and she has worked with us on various corporate law matters including two multimillion-pound acquisitions. Teri is extremely personable and brings a pragmatic and commercial approach to negotiations. She is able to bridge the gap between the legal and the practical, and has a comprehensive knowledge of financial as well as legal matters. On our most recent acquisition she brought an innovative approach to very complex earn out arrangements. She is supported by a superb team of lawyers and they have all been a pleasure to work with.”
Teri Hunter said:
“We have advised MRIB for many years and it has been a pleasure assisting the MRIB team on this acquisition. We wish Ed, Elaine and the team the best for the future and look forward to working with them again soon.”
PKF Littlejohn LLP provided corporate finance and tax advice for MRIB Group.
For more information on company acquisitions please contact Teri Hunter.