Giles sale moves forward with Credit Suisse appointment

Private equity firm Charterhouse Capital Partners has hired Credit Suisse to carry out a strategic review of broking group Giles, Insurance Times has learned.

Charterhouse owns 63.9% of Giles, and options on the table are believed to include a sale to a trade buyer or private equity house.

The company’s debts amounted to £241.7m on 31 August 2011, the most recent figures available.

Charterhouse paid £200m for its stake in Giles in 2008.

Credit Suisse and Charterhouse declined to comment.