Sale of Fyfe Group

fyfe_2008_v2Fyfe Group was a high margin specialist broker operating in a niche segment of the motor trade business. The principal shareholder, Mike Slack, was a non-executive director of the FSA. The transaction involved the sale of the business to Royal & Sun Alliance Insurance plc.

Key features of the transaction:

  • Transaction effected via a ‘Rifle-shot’ approach – despite expected high level of demand for the business from both brokers, MGAs and insurers;
  • Close to 100% of the consideration received in cash at completion;
  • Principal shareholder was able to step back from the business at completion and also retain control of another motor related insurance distribution business
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