UNQUOTE

Quick exit for Gresham makes 200% IRR

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Gresham has announced that it has made a successful exit from ANSA, a national claims management business that offers a fully integrated service to deal with insurersт€™ drainage claims. The move comes just 12 months after Gresham provided the equity backing for the management buy-out of the company. Gresham made a return of 3x its initial investment and an IRR of 200%.

Gresham has realised its investment in ANSA through a sale to Mavinwood Plc, AIM listed support services business. The deal was handled by Andy Marsh and Ken Lawrence for Gresham.

ANSA operates from centres in Oldham, Wetherby and Bournemouth, providing claims management and surveying services of drainage systems to insurance companies. In the twelve months since its initial investment, ANSA has grown its claims management business by 50%.

The existing management team will remain with the business post completion and have re-invested in Mavinwood Plc. They will continue with the same strategy for ANSA in developing additional service offerings for its customer base.

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