National law firm Shoosmiths has advised the shareholders of Ultimate HC Limited on its sale to Markerstudy Holdings Limited.
Ultimate HC Limited is the holding company for the Ultimate group which includes Ultimate Insurance Company Limited which is an independent provider of niche insurance services based in Gibraltar alongside Ultimate Pet Partners Limited and Ultimate Insurance Solutions Limited, the UK administrative arm of the business.
The Markerstudy group is an innovative and entrepreneurial provider of insurance services specialising in motoring and associated claims handling in addition to other insurance products including, travel, catering and pet insurance.
The Ultimate Insurance operation will be overseen by Gary Humphreys, Markerstudy group underwriting director, whilst Ultimate Pet Partners will join the Markerstudy group retail division, headed by managing director, Russell Bence.
With the Ultimate group's expertise and Markerstudy's existing credentials, the combined companies will create one of the largest and most dynamic insurance offerings in the pet insurance sector.
Shoosmiths corporate partner, Stephen Porter, led the deal, supported by legal advisers Sharon Everard, Susie Porter (both corporate associates) and James Richards (commercial).
Founder and former joint majority shareholder of Ultimate HC, Brian Lambert, said:
'Thank you to everyone at Shoosmiths who ensured a successful sale. Given their reputation for providing first class legal services to the insurance industry, they were the obvious choice when it came to appointing advisors to complete the transaction.'
Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
The national corporate team has recently been placed second by deal volume in Experian's UK Deal Review and Advisor League Table.