SENIOR executives have completed the management buy-out of a company that provides tailored accident repair management services to major UK insurers.
Andy and Louise Tunnicliffe founded Incident Management Services in Bedford in 2006 and will retain a minority shareholding in the business following the buy-out led by current managing director and co-founder Simon Young.
The firm employs more than 80 staff in Bedford. Its business centres on the Incident 2 Resolution system, which is designed to make the process of managing a vehicle through the insurance claim process as easy and efficient as possible.
Mr Young said: “Having been one of the founders of the business alongside Andy and Lou, I am delighted to be leading the MBO along with my team. This secures the future and growth of the company and we look forward to continuing to provide a high-quality of service to our insurer customers, suppliers and vehicle owners.”
PEM Corporate Finance acted as lead advisers on the buy-out. Partner Lake Falconer said: “We are pleased to have helped Andy and Lou achieve their exit from the business through this succession buy-out led by their long-standing colleague Simon. It is a good example of how this type of collaborative deal can work well for all the stakeholders in a business.”
Legal advice was provided by Adam Bradley and Lizzie Wilson of Taylor Vinters LLP.
