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Nabarro advises Mavinwood on sale of subsidiaries to MBO team
17 June 2009
Nabarro LLP has acted for long standing client Mavinwood plc on the sale of its subsidiaries, ANSA Holdings Limited (ANSA) and Independent Inspections Limited (IIL), to a management buy out team backed by Lloyds TSB Development Capital (LDC), for a consideration of up to £19.55 million.
ANSA and IIL are market leading providers of claims validation, management and fulfillment services on behalf of the UK's leading insurance companies such as Direct Line, Norwich Union, Legal & General and Zurich.
Nabarro advised Mavinwood on the drafting and negotiating of all sale documents, as well as on the preparation and distribution of its circular to shareholders informing them of the sale. Addleshaw Goddard LLP advised LDC and Cobbetts LLP advised the management buy out team.
The team at Nabarro was led by corporate partners Glyn Taylor and Barry Maytum, with assistance from corporate associates James Archibald, Ted Dewhurst, Sophie Dixon and Samantha Wright. The team also consisted of associates Charlotte Miller (property), Adam Singer (tax), and David Williams (IT & communications).
Glyn Taylor, corporate partner at Nabarro commented:
“Nabarro’s corporate group has in depth expertise in advising AIM listed companies on all aspects of their business. It was a pleasure to work with longstanding Mavinwood on this transaction and it is encouraging that the deal completed during a difficult environment for business growth.”
If you would like any further information or have any queries please contact:
Natalie George
Lansons Communications
T +44 (0)20 7294 3691
Natalieg@lansons.com
