Doncaster-based ProAktive Risk Group has undergone a £2m management buyout in a deal gives control of the business to a long-serving management team led by Andy Morley and Ian Laycock.
The buyout, backed by debt funding from Mercia Fund Managers, allows founder Jon Whiteley to step down from the day to day management though he will continue to play a role in the business and retain a significant shareholding.
The buyout was partially funded by deferred consideration on the part of Mr Whiteley.
ProAktive is a commercial insurance broker which also provides risk management advice to help businesses reduce claims and premiums. Its consultancy services include HR, health and safety, business continuity planning and fleet risk management.
ProAktive was established in 2003 under its current name, though its origins date back to 1975.
Jonathan Craig, Investment Manager with Mercia Fund Managers, said: “ProAktive’s business model demonstrates its forward thinking approach. By working with clients to identify potential business risks and improve training and internal systems, it can often help reduce premiums and claims. The business has an exceptionally loyal client base and is well placed to capitalise on the opportunities in the market.
“This funding allows the founder to hand over day to day control to the existing management whilst preserving the values of the business.”