Co-founder completes MBO of insurance services firmJul 23, 2019
The team now at the helm at IMS from left Simon Young, Courtney Peat, James Kavanagh and Aleks Ilic.
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.