Howes Percival advises Leicester insurance broker on sale

4th April, 2024

Howes Percival advised the shareholders of Building and Land Guarantees Limited (BLG) on the sale to Nottingham based insurance broker, Russell Scanlan Limited.

Founded in 2006, Leicester based BLG is one of the UK’s largest independent brokers specialising in long-term construction projects. This includes warranties for residential properties, insurance-backed guarantees, commercial property warranties, component parts guarantees, and machinery and electrical plant warranties.

Russell Scanlan is Nottingham’s longest established insurance broker, celebrating 143 years in operation, and part of global fintech group, Acrisure.

While the transaction has resulted in the existing business being integrated into a wider Midlands focussed operation, BLG will continue to operate under its own brand and with its current team of 12. Mike Dickinson and Matt Franklin at Russell Scanlan will join the BLG Board alongside current BLG Directors, Paul Rose and Mark Jackson.

Howes Percival advised the BLG team on all aspects of the transaction. The team was led by Jeremy Hyde (Corporate), supported by Jessica Resende (Corporate), Nick Benton (Employment) and Kiran Vohra (Commercial Property).

Howes Percival’s Jeremy Hyde commented,

This is a fantastic East Midlands deal. While we are very much seen as the go-to firm for this type of deal, it was great to see a transaction like this, handled largely within the region. There were a number of complexities, but we worked closely with a number of other local advisors throughout, and the clients were absolutely delighted with the outcome.

Mark Jackson from Building and Land Guarantees said

The team at Howes Percival led by Jeremy handled the negotiations and complexities of our deal, always with an eye on the wider implications of certain issues whilst dealing with the detail. There were some unusual aspects that required a full understanding before devising and executing the strategy required for a very satisfactory outcome. We were extremely pleased with the outcome, which was delivered in a professional and friendly manner by the whole team. We would highly recommend Jeremy and Jess to any business leaders.

For more information visit: https://www.howespercival.com/services/corporate/

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