A multidisciplinary team from Ashtons Legal have recently assisted leading Suffolk insurance broker, Ryan Insurance (Ryan’s), and their Chairman Tim Ryan in the sale of the business to London-based insurance and risk management business, Seventeen Group.
Ryan Insurance was formed in 1975 and as a UK top 100 broker handles over £12m of both personal and business insurance premiums. They employ over 50 staff at Crane House on Ipswich’s main route into the town, London Road.
Ryan’s will form part of James Hallam, Seventeen Group’s broking subsidiary and will continue to trade under the Ryan’s brand. Tim Ryan will now focus on his other interests with Directors Robin Belsom and Tim Larke remaining to lead the business.
Advising on the sale was Paul Whittingham, Craig Fiddaman and Faye Power from Ashtons’ Corporate and Commercial Team. They were ably assisted by Simon Burnip in Commercial Property and Colin Makin and Emily Dixon from the firm’s Employment Law Team.
Paul Whittingham said: “Ryan Insurance is a well respected Suffolk business which has just moved into its next phase with the sale to Seventeen Group. We really enjoyed working with Tim and his team to help bring this about and wish the business every success in the future.”
Tim Ryan adds: “From the beginning of the sales process, it was important for the shareholders to have good quality advice that helped us understand the contractual elements of the deal. Ashtons put a team together that managed our expectations well and simplified the language so we could make key decisions. All in all, they made the sale a more pleasant and manageable experience.”