How to complete an MBO: Successful successions

For the past two years, the lack of deals activity across most major UK sectors, including the insurance industry, has been blamed on the credit markets seizing up. However, there are signs of a merger and acquisitions thaw inspired, at one end, by the Cadbury/Kraft merger but also within the insurance industry, there is an expectation that consolidation will return to the broker market.

The opportunity to embark on a management buyout (MBO) often comes about when a retiring owner opens up the d