The transaction follows the recent sale by Brera Capital Partners, LLC of GAB Robins' international operations to Cunningham Lindsey Group, LLC, which is an affiliate of Stone Point Capital. Through a recapitalisation plan, GAB Robins UK will become an owner-managed business.
The terms will remain private, and the transaction is expected to be completed by the end of the first quarter of 2009.
Kieran Rigby, chief executive officer of GAB Robins UK, said: "We believe this change will secure the fut
- Losses bite at Ageas Retail after Kwik Fit closure
- David Charles steps down as head of PIB-owned Cooke & Mason
- New motor fleet MGA launched
- Lark boosts profit ahead of Aston Scott merger
- Ageas teams up with CDL on Flood Re solution
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Broking Break - Your Top Five