Completed sale
How Vesta Financial Services Professional Services Was Sold to Hug Enterprises | Transaction Overview
Knightsbridge sourced investment to help the growth of a life insurance specialist…
Our client, Vesta, is an expert life insurance broker and financial services provider located in Altrincham, Greater Manchester, operating nationwide.
The business was founded by Matthew Horan and Robert Hazell in 2016, who decided to offer the company for sale to facilitate growth under the impetus of new ownership.
Helen Bainbridge, Knightsbridge Commercial Executive, was tasked to find investment for Vesta, who highlighted some of its key value drivers presented to potential buyers:
“Vesta’s recent turnover was in excess of £1.4 million, with a gross profit of circa £1 million, which is quite eye-watering to a lot of active buyers.
“It has maintained its position in a competitive market through partnerships with prestigious providers and a diverse portfolio of services.
“Vesta boasts strong relationships with a database in excess of 7,000 active clients and has over 2,000 five-star Trustpilot reviews.”
With the help of Knightsbridge National Sales Director Joe Bull, who assisted greatly in the research process, no less than 60 interested parties emerged.
A total of 17 meetings were conducted with the most serious of potential acquirers, which led to two competing offers tabled for Matthew and Robert to choose from.
A majority share was purchased by Hug Enterprises Ltd, a company focused on providing UK-based SMEs with access to employee benefits, insurance, and rewards.
The company is based in Chester, having been founded in 2022, and the acquisition of Vesta was led by its Company Director Paul Sweeney.
“A preferred outcome of share sales was achieved for our clients, and the deal was wrapped up in just nine months of going live on the market”, concluded Helen.