Buy-out will clear loss adjuster's debts
The management buy-out of GAB Robins UK will clear all of the loss adjuster’s debts.
Under the buy-out, which was confirmed last Wednesday, the UK business will receive a significant “equity infusion”. The loss adjuster has been bought from Brera, its former private equity backer.
Kieran Rigby, chief executive of GAB Robins, said: “As an owner-managed business, we are in a much better position to control the investment of profits and take a longer-term view on returns.
“We have the full support of the pension fund trustees and the pension regulator. The company has been proactive in its approach to the reduction of the pension fund deficit and we intend to continue this commitment.”
Cunningham Lindsey will pick up GAB Robins’ international operation, excluding most of the North America arm, which will stay with Brera.