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YFM Backs invests £7m into the MBO of Southampton Loss Adjusting and Claims Management Specialist

15 July 2020

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James Cowper Kreston are pleased to announce the completion of the Management buy Out of Graham High Group (“GHG”). They provided financial and tax due diligence as well as tax structuring on the transaction.

Loss Adjusting and Claims Management specialist GHG based near Southampton has funded its primary buy-out by securing a £7m equity investment from YFM Equity Partners (YFM). The deal, is the first from the PE house’s £80m Buyout Fund II and marks the second investment made by YFM since lockdown began, following on from its investment in to vehicle safety systems business ISS in April.

Founded in 1995 in Winchester, Hampshire, GHG specialises in developing bespoke claims management and loss adjusting for the UK insurance sector, covering both the domestic and commercial markets. With particular expertise in property, liability, subsidence and claims administration, it is well placed to offer a comprehensive service, including having specialist knowledge areas. The company has enjoyed a sustained period of growth after expanding its offering and has won a number of significant new contracts in recent years. 

The buyout was led by GHG managing director Austin Snelgrove who, for the last three years, has been working alongside founder Graham High, as the business has continued to develop and grow its position in the loss adjusting market.  

Jamie Roberts of YFM added “GHG is a data rich business with great revenue visibility. The James Cowper team did a great job understanding the business and its data and testing the key drivers.  The due diligence continued during lock down which created an additional set of variables for the James Cowper team to understand and articulate.”

Brad McAvoy, Transaction Services Director at James Cowper Kreston commented: “We are delighted to have the opportunity to work with YFM again and support them on the Management Buyout of GHG.  The partnership between the GHG Management team and YFM will allow the business to continue to develop and grow its strong position in the market.”

All advisers on the transaction were based in the local market. YFM were also advised by BDO Corporate Finance in Reading as buy-side advisers; RPL advised on commercial due diligence; Stratton HR provided management due diligence; and Gateley’s Reading office provided legal advice.  The Shareholders were advised by Spectrum Corporate Finance and Southampton law firm Paris Smith.