Corbett Keeling advises Bestinvest on the sale of its insurance broking subsidiary, Lovat Insurance Brokers, to Towergate Insurance

Corbett Keeling is pleased to announce that it has successfully advised its client, the wealth manager Bestinvest, on the sale of its insurance broking subsidiary, Lovat, a corporate insurance broker, to Towergate Insurance.

Bestinvest provides investment advice, financial planning and execution-only services predominantly to private individuals. Lovat is a corporate insurance broker based in Tunbridge Wells, Kent.

Jim Keeling, Joint Chairman at Corbett Keeling, who led the transaction, commented: “The sale of Lovat Insurance Brokers has enabled Bestinvest to divest a non-core asset, whilst enhancing acquirer Towergate’s regional coverage and strengthening its relationships in the South East of England. This is yet another example of Corbett Keeling advising on the successful sale of a business where clear value was created for all parties.”

Peter Hall, Chief Executive of Bestinvest, commented “Corbett Keeling executed this transaction for us with a high level of professionalism.”

Corbett Keeling provides targeted financial advice on the MBO of Advanced Power UK Ltd from 3i plc

The management team of Advanced Power UK Ltd, the leading international developer of independent power generation projects, acquired the company from 3i plc in an MBO. Advanced Power develops and invests in power generation and related infrastructure projects in Europe and North America. Corbett Keeling provided targeted financial advice to the management team at key points during the MBO process and prior to that as the business was restructured.

Martin Bashall, General Counsel of Advanced Power, commented “The team at Corbett Keeling provided incisive and timely advice over a period of several years in the build up to the MBO of Advanced Power. It was extremely helpful to be able to contact them as and when we needed. Their advice was not only helpful on the MBO itself but also in respect of wider business issues. We hope we will have the opportunity to work together again in the future – and are looking forward to that.”

“There is optimism in the market for 2014, notwithstanding a slightly weak first quarter” says Jim Keeling

The latest edition of Private Equity Director looks at some of the key topics we think will prove of interest to private equity directors:

  • Both values and volumes of private equity deals decreased in the first quarter of the year but, judging by the evidence from the latest survey, activity is set to accelerate once more in the next 12 months.
  • The years since the global financial crisis started have left their mark on mergers and acquisitions activity. We examine some of the trends and assess the balance between buyers and sellers when it comes to deal making.
  • IPOs are finally making a resurgence, after several years of stagnation. While they may be too risky an opportunity for many equity investors, they point to an increase in confidence which is necessary for a broader-based economic recovery.

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Corbett Keeling and Globalscope announce Asian and African expansion

Corbett Keeling and Globalscope, the international mergers and acquisitions (M&A) network, are delighted to announce the success of Globalscope’s 15th Semi-Annual Conference. During the conference, the network confirmed its expansion in:

  • China into Shanghai and Jiaxing; and
  • Southern Africa into Namibia and Botswana.

Michael Moritz, president of Globalscope, commented: “We are very proud to extend Globalscope’s reach in two of the fastest growing economies in the world. This will benefit our clients hugely.”

The four day conference programme, hosted by Globalscope’s member in South Africa, GKA Capital, was attended by more than 40 partners from 23 of Globalscope’s 32 member firms. For the reception at the Radisson Blu Hotel, the members were joined by numerous selected Southern African entrepreneurs and investors. Local experts, Willie Thabe of the Black Managers Forum, and Noah Greenhill of the leading niche South African Banking and Financial Services Group, SASFIN, provided insight into the opportunities and challenges in Southern Africa. Extensive sector meetings and best practice presentations by the Globalscope members evidenced the close relationships established in the network for the continuing benefit of its clients.

The next Globalscope conference will be held in Athens in October 2014.

We are pleased to announce the sale of our client Hedgestart Partners to Cordium

Corbett Keeling Ltd and its partner firm Equiteq LLP are pleased to announce that their client HedgeStart Partners LLP has been acquired by Cordium, a business in which Buy & Build specialist Sovereign Capital is an investor. The deal was completed on 31 January 2014.

Corbett Keeling is a leading UK Corporate Finance boutique with 20 years transaction experience and a member of the world-wide network of M&A advisors, Globalscope. Equiteq is a consulting sector merger and acquisition specialist, providing both growth advisory and M&A transaction services to the global consulting industry.

HedgeStart was founded in 2000 to offer a range of start-up and on-going outsourced services predominantly to alternative investment businesses. Services include: Corporate Tax; Private Client Tax; FCA Regulatory Compliance; Accountancy & Payroll; and Strategic Consulting. The firm has grown continually for the last thirteen years and operates out of a single office in London with a headcount of 36 people.

Neil Cox, Director at Sovereign, commented about the transaction:

“There is continuing strong customer demand for outsourced independent compliance consultancy as a result of increasing financial regulation and investor governance transparency requirements. This acquisition further enhances Cordium’s position as a high-quality global provider of regulatory compliance consulting and software services to regulated financial services companies.”

For more information and media enquiries, contact

Jim Keeling of Corbett Keeling on +44 (0)20 7626 6266 or Tony Rice of Equiteq on +44 (0)20 3651 0600 or tony.rice@equiteq.com, or visit www.equiteq.com/report to download the Global Consulting M&A Report.

Corbett Keeling hosts seminar on “How to maximise value on exit from your business”

Corporate finance advisers Corbett Keeling, international law firm CMS Cameron McKenna and bankers Kleinwort Benson, in conjunction with PE DirectorTM*, hosted a seminar on Selling Your Business. This included discussion on:

  • Preparing to be Wealthy - how to optimise your position on exit
    led by Ben Whitworth, Head of Entrepreneurs and Senior Executives, Kleinwort Benson
  • Managing the Sale Process - including to trade or private equity buyers and via IPO
    led by Jim Keeling, Joint Chairman, Corbett Keeling
  • Legal/Tax Hurdles and Opportunities - including zero rate Capital Gains Tax
    led by Dipesh Santilale, Partner – Private Equity Group, CMS Cameron McKenna