YFM backs £17m GHG buyout

The firm is providing £7m in equity for the deal, which has a total enterprise value of £17m. This is the first investment from YFM's Buyout Fund II, which closed on £80m in March 2020. It is also the second investment made by YFM since the coronavirus pandemic began, following on from its investment in vehicle safety systems business ISS.

The buyout was led by GHG managing director Austin Snelgrove, who, for the last three years, has been working alongside founder Graham High.

Graham High will continue to hold a significant shareholding in the business, and will retain a position on the board. Clive Nicholls, former UK CEO of fellow UK loss adjuster Crawford, joins the business as non-executive chairman to support the company's growth strategy.

Senior debt and a working capital facility are being provided by Triplepoint.

Company
Founded in 1995 in Winchester, Hampshire, GHG specialises in developing bespoke claims management and loss adjusting for the UK insurance sector, covering both the domestic and commercial markets.

Advisers
Equity – BDO (corporate finance); James Cowper Kreston (financial due diligence, tax); RPL (commercial due diligence); Stratton HR (management due diligence); Gateley (legal).
Vendor – Spectrum Corporate Finance (corporate finance); Paris Smith (legal).

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