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."