Buying in to buyouts
Broker MBOs are becoming more prevalent but great care and planning are essential if they are to be successful, explains Tony Cornell
During the period 1990 to 2000, there were few broker acquisitions, mainly because of the difficulty of securing finance and the low valuation of brokers in the soft market. This came to a head with ageing principals who were desperate to retire but could not sell their businesses for enough to maintain their standard of living for the rest of their life.
It wasn’t until 2002 with the emergence of Towergate, other consolidators and broker-buying insurers that the situation changed and all those
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