Manchester M&A experts advise on 52nd deal for Chase Templeton

Manchester M&A experts advise on 52nd deal for Chase Templeton


Author: Kara Shadbolt

The corporate team from the Manchester office of national law-firm, Shoosmiths has advised private medical insurance broker Chase Templeton on its 16th strategic acquisition this year, the largest to-date for the company.

Karen Procter

This latest acquisition in a string of deals sees Chase Templeton acquiring private medical insurance consultancy, Consilium Employee Benefits. The acquisition is bringing in over £14,000,000 of additional annual premium income (API), taking the overall total of API acquired by Chase Templeton during 2015 to £35m.

The Shoosmiths' Manchester team has advised Chase Templeton on more than 50 acquisitions since the private health insurance specialist secured investment from Palatine Private Equity in 2013. Chase Templeton, which is headquartered in Darwen, Lancashire and works with insurers including Aviva and Bupa, is now the biggest consolidator in its market, having brought in a raft of private medical insurance brokers and books of insurance business.

The acquisition of Consilium Employee Benefits will further strengthen Chase Templeton's corporate and SME client credentials and bolster its team of expert intermediaries. This deal now represents the largest acquisition completed by Chase Templeton, having overtaken the acquisition of Atlas Consulting Group which added £13.8 million of API to the business in August this year.

The series of acquisitions has contributed to Chase Templeton's substantial growth in annual premium income, turnover and profitability. The combined business now has over £125m in API, protects over 110,000 lives and employs nearly 100 staff who serve in excess of 35,000 corporate and individual clients.

Shoosmiths' corporate partner, Karen Procter - who has worked with Chase Templeton closely since 2012 - and associate Benjamin Dredge, advised on the acquisition of Consilium Employee Benefits.

Shoosmiths' Karen Procter, said: 'Advising on more than 50 deals for Chase Templeton has enabled our two teams to develop an excellent working relationship and it is fantastic for us to see Chase Templeton growing so rapidly in-line with their strategic objectives. This latest acquisition, the largest we have advised on and the second major deal for Chase Templeton this year, will significantly enhance their presence in their target SME marketplace. We now look forward to supporting the company further as we look ahead to 2016.'

Warren Dickson, chief executive of Chase Templeton, said: 'This was a complex and protracted deal the successful conclusion of which was in part down to the dedication and expertise of the Shoosmiths team. On more than one occasion they went beyond the call of duty to ensure both we and the vendor secured a satisfactory outcome.'

Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths works 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.

Nationally, the corporate team is ranked in second place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.