Background
Morton Insurance Broker, an independent London-based insurance broker, specialising in minicab and Private Hire insurance for PCO and Taxi drivers across the UK, faced a critical strategic decision. With the founder, Adrian Morton looking to retire in the next few years, the business was looking for an appropriate buyer who had a great company reputation, could offer the same, if not better products and services to their customer base, and importantly one which Adrian felt comfortable and secure selling his legacy to.
The brief included finding a buyer who could:
Maintain an excellent level of customer service
Provide job security and career opportunities for existing employees
Ensure a smooth transition for both staff and clients
“It can be a lonely world as an independent business owner, so it was nice to have someone to bounce ideas off and support me through the process”, said Adrian.
Our Solution
Our specialist M&A consultants took the time to carefully understand Adrian’s business model, vision and growth trajectory. Having carefully evaluated the business objectives and future priorities, the team introduced Adrian to Specialist Risk Group just a week after the initial conversation.
"IDEX listened to my needs and took time to understand what I wanted on a personal level as well as what I wanted to do with my business. When I spoke to SRG they were already aware of what I wanted and were able to accommodate. Kim kept me in the loop at every stage and made the process comfortable”, added Adrian.
The team’s approach focused on:
Deeply understanding Adrian’s personal and professional needs
Leveraging industry connections
Providing transparent, supportive and consistent guidance throughout the process
Why Adrian chose to work with IDEX
Several key factors made IDEX the ideal partner:
Expert impartial guidance - "As IDEX are independent, you can trust they are supporting you for genuine reasons, no hidden agenda. If I ever had any queries or needed to discuss anything as part of the process, they were there to support me, without charge too. I know similar companies charge the seller for support”, said Adrian.
Industry expertise and extensive network - Our consultants have over 150 combined years of M&A experience with a network of 40,000 businesses across the UK, Europe, US and Middle East. This means they have established, trustworthy relationships with Managing Directors, CEOs and Private Equity firms, often looking to acquire or sell.
Personalised and empathetic approach - Our consultants took additional care and due diligence to understand and prioritise Adrian’s business and personal objectives so that the right match could be made.
The Result
The deal was completed in approximately seven months which was a fantastic outcome for both seller and buyer. Not only has the acquisition created new opportunities for Morton Insurance and helped expand its customer base, it has also provided Adrian with increased personal freedom and a clear, secure path to retirement.
"The acquisition has given me some freedom which I never had before as a full-time business owner. If I’m away from business or out of the business for some time, I know my clients and employees are being looked after properly. I am looking forward to working towards full retirement over the next few years," Adrian concluded.
If you’re exploring your growth options, are looking for specialist M&A advice or would like some intel on the M&A market don’t hesitate to contact our M&A consultants who will be happy to help.
.png)
.png)
