- Quinn supports LDC in MBO of ANSA & Independent
The Quinn supports LDC’s Manchester Office in MBO of ANSA & Independent
The Quinn Partnership has advised LDC, the private equity division of the Lloyds Banking Group in the management buy out of ANSA Holdings Limited (ANSA) and Independent Inspections Holdings Limited (Independent) from Mavinwood Plc.
This £11.6 million deal will see LDC as a majority equity stakeholder in ANSA and Independent, who both work in Insurance Claims Management.
Oldham based ANSA and Preston based Independent are the UK’s leading providers of claims validation, management and fulfilment services for UK insurance companies. Their clients include companies such as Directline, Legal & General, Norwich Union and Zurich Financial Services.
Jonathan Bell, Investment Banker who led the deal for LDC’s Manchester Office is set to take a seat on the new company’s board upon completion.
Mike Stiles, Director at The Quinn Partnership commented “We have built a significant understanding of what drives success within this sector and have been, once again, able to contribute to LDC’s driven strategy to invest in strong businesses through the economic cycle. Our ability to work with management teams and constructively advise on important issues underpins the firm’s offering as the leading provider of Management Due Diligence services within the UK.”