Palatine completes MBO of two London businesses

Thu, 19 Mar 2015 | MBO/MBI

Palatine Private Equity has completed an MBO of two London businesses in a deal worth £14 million.

The firm has bought both the mortgage broking business John Charcol and financial planning side of the Towergate Group. The £14 million deal was secured from insurance intermediary Towergate Group.

The deal represents an initial purchase price of £8.64 million plus funds for the financial separation of the two firms. Towergate Financial Planning is set to unveil a new brand in the next few weeks, while John Charcol will continue trading under its brand established over 40 years ago.

Palatine Private Equity backed Ian Darby in the MBO as well as the firm’s management teams.

Mr Darby said: “I am delighted to be able to lead this transaction to invest in a growing national financial advisory and mortgage broking business.

"They both employ some truly great people and we have an excellent strategy to develop and strengthen its routes to market through intelligent strategies and investment.”

Palatine Private Equity partner Tony Dickin added that the two businesses pose excellent opportunities in their respective sectors for growth. He concluded: “We very much look forward to working with Ian and the team in taking both businesses forward.”
______________________________________________________________________
Related information:
Tips on buying or selling a private business


Share this article



Latest Businesses for Sale

Manned & Electrical Security Solutions
South East, UK

Provides an extensive range of manned and electrical security solutions, including manned dog patrols and CCTV installation. Established for nearly 20 years. Utilises an in-house 24-hour control room for monitoring and response. Offers invited.

Asking Price: Offers Invited
Turnover: £3,100,000

LEASEHOLD


Complete Package of Pearpoint Pipeline Inspection Equipment (Fast Sale)
UK Wide

Viewing: Anytime In Normal Office Business Hours. Closing From 12 Noon Thursday 20th June.

Asking Price: Offers Invited
Turnover: £300k - £1m

Products & Contracting Services
UK Wide

Project Lake carries out contracting services for soil and water erosion control and ecological restoration projects, also supplying some of its own products into these projects at a healthy profit margin. Project Lake has four distinct areas of rev...

Asking Price: Offers Invited
Turnover: £5,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jun
 

Meat and poultry wholesaler goes under - business assets up for sale | ADMINISTRATION

Financial difficulties at a London-based meat and poultry di...

 
18
 
Jun
 

Administrators called in for West Midlands contractor | ADMINISTRATION

A contractor based in Aldridge, West Midlands has collapsed ...

 
17
 
Jun
 

Sheffield candle retailer enters administration | ADMINISTRATION

A shop retailing candle and gifts in Sheffield has collapsed...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
16
 
Oct
 

Social housing contractor Forrest taken over in a 2nd MBO | MBO/MBI

Social housing contractor Forrest has been subjected to a se...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources