Negotiations for management buyout of UK business, while Stone Point set to take international arm
GAB Robins directors are on the verge of a management buyout (MBO) for its UK business, while its international operations are set to be sold off to private equity giant Stone Point.
The deal for the loss adjuster could be thrashed out and concluded as early as Thursday, sources said. Stone Point has been circling GAB since November last year but finally swooped after getting the green lights from its owners, private equity firm Brera. GAB’s North American business is likely to remain with Brera.
The deal would see GAB become a sister company to rival Cunningham Lindsey, in which Stone Point has a controlling stake.
Read this Thursday's Insurance Times for the full story.
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