This role will be looking at someone to come into a start-up M&A function in a large brokerage to grow out this offering looking at connecting franchises with businesses in an 'acquisition in a box' type of scenario. This will include sourcing deals, project management, evaluation tools, negotiating and due diligence to complete the deal.
Our client, a large UK brokerage, has launched an unusual form of a buy and build acquisition strategy. The M&A strategy will focus on enabling the network of ~90 franchise holders to make small acquisitions in the context of the client's industry, but game changers in their own right. In addition, there is an expectation to make some larger corporate acquisitions at Head Office level as and when opportunities present themselves.
When our client grant a broker a franchise, we give them a "broker in a box". The franchise offers everything one would need to set up a successful insurance broker, including the modus operandi. The next offering is to produce an "acquisition in a box". This will set us apart from all our competitors because we are going to make it very simple and economical for our franchises to buy other businesses, increasing their income and our clients.
The offering will include;
- Sourcing deals (less important)
- Project management
- Evaluation tools
- Assistance in negotiating
- Simple standardised documentation
- Simple standardised DD
- Help in structuring a deal and balance sheet management
The target market is brokers between £0.5m and £3.0m GWP
The M&A Team
A new director of M&A joined recently to build and expand the M&A offering for this business. The plan will be to build the business to 3-4 permanent people however an initial interim is needed to deal with the bandwidth currently at play.
Duties of the M&A Contractor
Looking for an individual with experience of successful acquisitions in the insurance broking/distribution sector. Key duties will include:
- The M&A Contractor will have a primary focus on supporting day-to-day deal execution, closely assisting the Director of M&A. They will be expected to assist with all elements of a deal execution process from initial financial modelling and pricing, through to formulation of indicative offers, completion of simple due diligence and assisting in the drafting of deal related documentation. A candidate with a good level of knowledge of sale and purchase agreement drafting would be considered favourably.
- Intermediate level technical knowledge of due diligence, financial modelling, basic deal structuring, transaction related legal documents, broking financials and M&A process management are essential elements of the role.
- The ability to robustly track the M&A pipeline, manage to timeline, and report upwards on a process will be a key part of the role.
The successful candidate will need to be willing to flex the focus of their day to day activities as required depending on the needs of the team.
What we are looking for in the successful candidate
The individual will need to be a true self-starter and someone who has a track record of, and enjoys, being able to think outside of the box and come up with new ideas/ challenge the status quo where appropriate. The individual will need to be able to roll up their sleeves and help his/her colleagues to achieve the right result for the team.