Corporate finance specialists from Sheffield and Leeds have clinched the multi-million pound sale of a London insurance broker to a US firm.
Sheffield-based Castle Square Corporate Finance led the sale of Lloyd’s market insurance broker Paul Napier to US insurance broking consolidator Assured Partners, through its specialist insurance sector corporate finance business, TPD.
Irwin Mitchell’s Sheffield office provided legal advice and Leeds-based Positive Tax Solutions provided international tax advice.
Castle Square and TPD director Kevan Shaw led the negotiations, which culminated in Assured Partners being chosen as preferred bidder.
Mr Shaw said: “We are delighted to have negotiated a successful exit for the shareholders of Paul Napier Limited and believe the business will go from strength to strength as part of the Assured Group.”
Irwin Mitchell corporate partner Kevin Cunningham added: “This represents significant inward investment for the insurance sector and it is a deal that we are delighted to have been involved with and help complete, particularly as it presented several challenges, not least the co-ordination of a group of investor shareholders spread across a number of countries.
“The deal clearly illustrates the strength of international corporate finance expertise available here within Yorkshire.”