Insurance and risk management organisation, Seventeen Group, has acquired Graybrook Insurance Brokers Limited, and Walker Persson and Spargo Limited in the next stage of their strategic growth plan.
The deals were both completed in June and saw the company purchase the entire issued share capital of both Essex-based Graybrook Insurance, a membership benefit organisation specialising in Medical Malpractice and Professional Liability Insurance, and Plymouth-based Walker Persson and Spargo Limited. Walker Persson and Spargo Limited trades as WPS Insurance Brokers & Risk Services and offers a range of insurance products for both commercial clients and individuals.
Talking about the transactions, Paul Anscombe, chief executive of Seventeen Group said: “We have worked with asb law now on all of our transactions over several years and regard them to be very much part of our team. asb know our group very well and this helps speed up the legal process. Each transaction has its own unique set of issues and Daniel Tozer at asb guides us through these whilst never forgetting that both parties need to be considered.”
The corporate team at asb law LLP has worked with Seventeen Group over several years and was delighted to support them in getting both deals successfully across the line. The team was led by Partner, Daniel Tozer who states “We have a great relationship with Seventeen Group and enjoy working with them to implement their strategic growth strategy. We are delighted to be able to close two transactions in two weeks and look forward to supporting Seventeen Group as they continue to implement the strategy.”
Throughout the deal, the team collaborated with Osborne Clarke and Gateleys as part of the funding exercise with Beechbrook Capital.