Background
As a 100% family-owned business, Hillier Buchan has always valued a personalised service and strong relationships with clients and staff. The firm prides itself on delivering a client-centric approach, offering a wide range of commercial and personal insurance products to clients across the UK.
The owner of Hillier Buchan, Phil Buchan, was planning for his future retirement and wanted to ensure that his legacy was secure. Phil recognised that a new phase was necessary for the business to thrive, and he wanted to find a buyer who could continue offering an exceptional service to his clients and also maintain the honest, authentic and positive culture he had built for employees. The challenge, however, was finding the right buyer who could help transition the business without losing the essence of what Hillier Buchan had built over the years.
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IDEX Consulting’s solution
IDEX was approached by Phil to help him find the right buyer. The challenge was clear. We needed to find a partner who could step in and maintain the high level of personal service Hillier Buchan was known for, while also offering the operational support and growth opportunities needed to take the business into the future. The solution needed to align with Phil’s long-term goal of stepping away gradually from the business, whilst still staying involved enough to ensure a smooth transition.
IDEX’s approach was methodical and thoughtful. We took the time to understand the unique aspects of the business, Phil’s aspirations for retirement, and the specific buyer requirements which could offer both operational support and expansion opportunities.
Once we had a clear picture, we used our extensive network and expertise to introduce the company to a variety of potential buyers. After a couple of conversations, Hillier Buchan was introduced to CISL (Commercial Insurance Solutions Ltd), a larger firm that aligned well with the owner's vision, objectives and cultural ethos.
Why Hillier Buchan chose to work with us
The decision to partner with IDEX was rooted in trust and the ability to provide a level of care and expertise that larger firms could not offer. As a small, independent broker, Phil had been approached by various firms in the past, but was unsure which option would best meet the firm’s personal and professional needs.
“IDEX's approach was different. The thought of selling my business and retiring, was a bit scary at first. But soon after I met with Kim Masters, our lead M&A advisor, I felt supported and like I was amongst friends, which made the process a lot easier and actually quite exciting. Kim took the time to listen to my goals and concerns. She spoke openly about the process and the options available, without any hidden agenda or sales-driven pressure. This transparency, combined with IDEX’s deep understanding of the insurance market and its vast network of connections, made it easier for us to make informed decisions. The sense of security and open communication made all the difference”, said Phil.
This personal, careful and considerate client-first approach was one of the main reasons why Hillier Buchan chose to partner with us, they knew we would be just as invested in their long term success.
The results
Kim and the IDEX M&A team found the right buyer for Hillier Buchan in just a few months. The sale process, which began in March, culminated in a successful transaction which completed on 1st August to Commercial Insurance Services Ltd (CISL). During this time, the business was supported by IDEX at every step, ensuring that the transition was smooth, transparent, and in line with the owner’s vision.
The benefits of the transaction were immediate. For Phil, the deal not only provided the ability to step away from the day-to-day running of the business but also freed up valuable time to enjoy personal pursuits. He noted, humorously, that he was able to take his first holiday in 22 years without having to check his computer screen, an achievement that speaks volumes about the impact of this transition on his work-life balance and life quality.
Hillier Buchan’s clients benefited from the added resources and wider market access provided by CISL. The new partnership allowed the firm to scale operations, offer more comprehensive services, and tap into new opportunities for growth. This collaboration has been a win-win for all parties involved.
“Kim talks to you on a level, she understand the challenges of small independent broker and I personally feel, just genuinely wants to help. IDEX have so many connections and relationships across the insurance market, you’d be a fool not to speak to them if you’re thinking about selling your business. I highly recommend IDEX to any brokerbroker considering a similar move, your interests will be in trusted hands”, added Phil.
The partnership with IDEX enabled Hillier Buchan to find a buyer who could continue their reputation of exceptional client service while providing operational and growth support. The process was seamless, the advice was invaluable, and the results have been life-changing for the owner. IDEX's expertise, personal approach, and market knowledge played a crucial role in the success of this transition.
If you’re exploring your business’ growth options, looking for intel on the M&A market or considering a sale get in touch with our experienced M&A team who will be happy to help.
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