Rollits advise on takeover of York insurance broker D E Ford
Hull and York commercial law firmRollits has advised the shareholders of D E Ford on their sale toLondon-based PIB Insurance Brokers.
The sale, for an undisclosed sum, hasseen PIB take over the Poppleton-based firm, with backing fromglobal asset manager The Carlyle Group.
Originally a family business, set upin 1976 by founder Ben Ford, D E Ford has grown to become one ofthe Top 100 Chartered Insurance Brokers in the UK acting forcharity and commercial clients in York and across the country.
The deal comes just months after D EFord celebrated its 40th anniversary, and sees the management teamcontinue to lead the 65-strong team in York.
The Rollits' team was led by CorporatePartner Nasim Sharf working with Craig Engleman (corporate andpensions), Douglas Oliver and Chris Crystal (property), James Peel(IP, IT and data protection) and Ed Heppel (employment).
Chris Greenall, managing director of DE Ford, said: "The investment from PIB will help build on thestrong platform and excellent reputation that our business enjoysand all of our team are thoroughly looking forward to theopportunities being a part of the PIB Group will create."
Nasim Sharf of Rollits said "Theteam at D E Ford has built up an impressive business over the last40 years and it's been a pleasure working with them on this saleand reinvestment. We wish PIB Group and the management team at D EFord well with their plans for continued growth organically and byacquisition"
KPMG acted as financial adviser to theshareholders of D E Ford on the sale to PIB, with KPMG's StewartCape working alongside Rollits corporate team. Alastair Creers ofJWP Creers provided tax advice.
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