Lark confirms MBO from Groupama
Lark Group has confirmed its successful management buyout from previous owner Groupama.
The deal for an undisclosed sum sees the company revert to being an independent broker having sold a majority shareholding to the French-owned insurer in late 2007.
The broker confirmed that the deal had been backed by Hiscox as a minority investor in the buyout and that Lloyds TSB Bank provided debt finance.
Deutsche Bank was the advisor to Groupama in the deal and is advising the parent group as to the sale of UK assets.
Graham Lark, chairman, said: "I am absolutely delighted we have managed
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