Rcapital-backed MBO at insurance claims management specialist.
Growth investor Rcapital has made a significant financial investment into Preston-based Independent Group, providing working capital facilities to enable the business to accelerate expansion following a period of consolidation. The formerly PE-backed business employs over 300 members of staff across the UK offering a wide range of services within the domestic, commercial and insurance markets.
Independent Group offers consolidated claims management outsourcing services via expert validation for all UK insurers. The Group are active in the drainage, fire & flood restoration and flooring & furniture Validation industries across the three core brands; Ansa Group, Independent Inspections and Chem-Dry. Incumbent CEO Alan Horton will continue as Executive Chairman with the support of Stuart Pace and Andy Smith who have been appointed as CEO and COO respectively.
Alan Horton commented
“We are delighted to have successfully concluded the MBO, backed by Rcapital who have brought sector expertise in addition to financial backing. The market is evolving and we are excited by the opportunity this offers Independent Group to build on its already established relationships and attract new business growth.”
Rcapital was introduced to the deal by Deloitte and moved quickly to complete the transaction with the support of legal advisers Eversheds. Independent Group and the lenders were advised by Addleshaw Goddard and DLA, with TLT advising the MBO team.
“having delivered a successful MBO strategy and financial investment, I believe Independent Group is now in a strong position to capitalise on market conditions, sector opportunities and continue the next phase of its ambitious growth strategy.”
Chris Campbell, Director at Rcapital