Dains Corporate Finance supports management buyout of a Financial Services business based in Walsall
A financial planning business based in Aldridge, Walsall, has been acquired by management team members.
Centrad is one of the largest independent financial planning companies in the Midlands, outside of Birmingham city centre. Incorporated in 1999, Centrad offers brokering services for mortgages, life and income protection, home insurance, pension and investments. Centrad is recognised as a leader within the mortgage advice field, successfully servicing in excess of 12,000 clients for all of their financial planning needs.
Managing Director Rob Palmer said: "It was a daunting task to complete the management buy-out and we are eternally grateful for the support and guidance provided by Dains. The interaction between Dains and the legal team at Freeths was integral throughout our journey, guiding and advising us throughout the whole process. We are now in charge of our own destiny and looking forward to the exciting challenges that lay ahead. Clients, introducers and intermediaries have experienced a seamless move with no interruption to service, commitment and professionalism from our team."
Dains Corporate Finance Team, said: "This was a great opportunity to help the management team acquire what they had worked so hard to build over the years, and they can now directly benefit from the rewards that the increasing turnover and profitability will bring. The deal wasn't without its challenges, but the drive and determination of all stakeholders to see this transaction complete was nothing short of impressive."
Transaction advice was provided by Dains Corporate Finance. Funding was provided by Dave Malpass of NatWest. Legal advice was provided to the management team by Lee Clifford and James Dyson of Freeths.