Corporate partner, Stephen Hadlow led the Shammah Nicholls team on CBG Group plc’s latest acquisition of EDN (Insurance Services) Ltd, E Davies (Northern) Ltd and EDN (Financial Services) Ltd through the acquisition of holding company, Howgud Limited. The maximum total consideration payable to the vendors is £2,325,000 comprising initial consideration of £1,200,000, and deferred consideration of £1,125,000 payable in full if certain designated and agreed targets are met.
CBG is a Manchester based insurance broker, financial adviser and healthcare specialist.
Commented Stephen: “Shammah Nicholls has a long standing relationship with CBG, and has acted for them on all nine of their most recent transactions. This experience combined with the focus and application of our team ensured that CBG was able to bring this transaction in on time and on budget. The acquisition of EDN further strengthens CBG's place in the north west market as a dominant player in insurance broking services." |
