MiniBusPlus

Deal Summary

Catalyst advised the management of MiniBusPlus (MBP) on their £24 million management buy-out funded by LDC.

Based in Stafford, MBP is the market leader in minibus, mini-coach and commercial MPV wholesale insurance. MBP insures 40,000 vehicles for schools, nursing homes, charities and businesses and has gross premium income of £45 million.

MBP are a specialist wholesale insurance intermediary, sitting between an underwriter and a broker, taking on the role of an outsourced ‘virtual’ insurer. The business manages the complete insurance cycle from insurance quotation through to claims processing.

What difference did we make?

Catalyst advised the management team of MBP for six months on preparing the business for a deal. During this period, Catalyst developed a strong relationship with the vendors, who were fully supportive of the preparation process.

A key issue in the deal was the lack of a strong finance function, and as part of our work we sourced and placed a finance director prior to the transaction, who subsequently became part of the equity management team. The transaction completed in two months once funders had been introduced due to this significant upfront planning and business preparation, and we structured a complex deal structure which satisfied all equity holders.