Sale of Red Insure Ltd and Everest Risk Management Ltd to AssuredPartners
FSP corporate team advises founders on sale.
The corporate team at Field Seymour Parkes has advised the founders of Red Insure Limited and Everest Risk Management Limited on the sale of both companies to AssuredPartners.
Co-founded by Neil and Janine Revill and based in Chester, United Kingdom, Red Insure provides insurance solutions for a wide spectrum of commercial clients with a particular specialism in the medical malpractice space. Everest is a specialist managing general agent, which is able to leverage its long standing relationships with insurers to provide bespoke solutions to SME businesses across focussed lines of business in the Chester area and beyond.
AssuredPartners is the fastest-growing, independent insurance agency in the United States. Founded in 2011, AssuredPartners has acquired in excess of 300 agencies, with offices in 31 states and circa 6000 employees. It is now the 11th largest broker in the United States and this latest acquisition is a further sign of its commitment to growing the AssuredPartners’ footprint across the UK and in London.
David Heathfield, CEO AssuredPartners London, said: “we are always excited to add talented and entrepreneurial individuals to our team in the UK. Neil and Janine have been particularly successful in building a business that provides bespoke insurance solutions to niche areas of business and their commitment to providing best in class solutions is the perfect example of the type of business and leadership team that we look to partner with.
Neil and Janine Revill said: “we were not particularly looking to sell but after meeting with AssuredPartners we realised very quickly that we shared a very similar view on how we like to operate our respective businesses. The partnership we have entered into provides us with the unique opportunity to continue servicing our clients in the same manner that has been the bedrock of our success over recent years, but also gives us the opportunity of being part of an expanding team of individuals engaged in growing the AssuredPartners’ operation across the UK.
Janine added “We would also like to say a big thank you to Penelope and all of the FSP team, who have worked tirelessly in difficult circumstances to complete the deal for us. The service has been fantastic and very professional – each and every one of them making themselves available for all of our queries and we wouldn’t hesitate to recommend FSP to other business owners.
Corporate partner Penelope Garden led the team at FSP with assistance from Sian Ralph (solicitor, tax).