A-Plan undertakes management buy-out
A-Plan Insurance, the High Street broker, has chosen Barclays Private Equity to be its partner in a Management Buy-Out that sees 32% of the equity pass to the A-Plan management team.
A-Plan runs a network of High Street branches providing policies from a market wide range of insurers. The business has been providing a local and personal service for more than 40 years and has over 500,000 policyholders.
Owen Clarke, Managing Director of Barclays Private Equity, the pan-European mid-market private equity house, commented “We are delighted to be associated with A-Plan. The business provides its customers with competitively priced products from a range of insurers, advice in selecting the product that best fits their needs, and supports the customer in dealing with their insurer should a claim be made. In a world where service is increasingly remote, delivered through call centres and the internet, customers value A-Plan’s local, face to face, model. A-Plan’s impressive growth is testament to the success of this approach. We look forward to supporting the team in building on that success.”
Carl Shuker, CEO of A-Plan said “We see the management buyout, with over forty senior managers participating, as the logical next step in the development of the business. Very importantly it maintains our ongoing independence and it is very much business as usual for our staff, clients and insurance partners. We are very pleased to be working with Barclays Private Equity, which has a long track record of successfully investing into the insurance sector.” p>
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