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Multi-discipline Shoosmiths team helps seal Fortis/Kwik-Fit deal

08 July 2010

A cross-discipline Shoosmiths team has helped client Fortis (UK) buy the insurance broking arm of motor repairer Kwik-Fit for around £215m.

Led by partners and corporate specialists Sean Wright and Stephen Porter, the deal required specialist knowledge from across the national firm, from employment to pensions.

The Shoosmiths team included: Damien Phillips (corporate), Tom Wilde (tax), Helena Derbyshire (employment), Pete Swinburn (property), Nick Fenner (intellectual property), Heather Chandler (pensions), Ewan Drummond and Ross Woodham (commercial).

Wright, who heads the firm’s corporate finance team in the south, said: “Given the size of the deal and the short timetable to exchange, we were always going to have to bring in a sizeable team; one with specialist knowledge across a number of areas.

“In helping to close this important strategic deal, we’ve seen a key client move to become the fourth largest insurance broker in the UK, providing it with a platform for further growth.”

The deal, which is expected to be completed in the next three months following regulatory approval, will give Fortis (UK) – to be renamed Ageas, next year – 600,000 extra retail customers on top of its existing one million. Its total UK customers number more than seven million.

Kwik-Fit Insurance Services sells insurance under the Kwik-Fit name, alongside the Green Insurance Company and Express Insurance brands.

For further information please contact:
Name: Alastair Gray
Phone: 03700 864096
Email: Alastair.Gray@shoosmiths.co.uk

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