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Darren Miller explores the management buyout of GHG
Darren Miller, Spectrum Corporate Finance, explores the YFM Equity Partners-backed £17m management buy-out of GHG, the challenges and lessons learned, concluding that building a network helps clients and maintains deal flow
The YFM Equity Partners-backed £17m management buy-out of GHG in July 2020, led by its managing director, Austin Snelgrove. GHG is a loss adjusting and claims management specialist, offering bespoke solutions for property, subsidence and liability claims.
We assisted with a review of strategic options for GHG and its family owners in 2015. This gave us a clear understanding of their family’s personal and business objectives. We worked on a value improvement plan for them that took several years leading up to the sale process. We recognised that the family shareholders were involved in all aspects of the business, which might inhibit some buyers and impact value. We knew Austin from his previous role at CCL Vehicle Rentals and believed he could support the GHG management transition plan. He turned out to be very useful for the business and this next deal.