Founded in 1964, Morton Michel insures 24,000 childminders and nannies, 9,000 nurseries and pre-schools and 5,000 out-of-school clubs and holiday play schemes, as well as numerous other social and voluntary groups connected with childcare.
Abigail Owen, Corporate Partner at DMH Stallard, who led the team advising the shareholders of the Morton Michel Group, said:
“Morton Michel is a family-owned business that has grown from a husband and wife team into a UK leader employing over 50 people in Croydon, Surrey within the insurance sector.
“This transaction provides an exit for the current shareholders putting the Morton Michel Group into the hands of the PIB Group who will continue to grow the business on the sound base it has and provide that additional investment needed to take it to the next level of growth and reinforce its position as the preeminent provider of insurance to the childcare sector.”
Samantha Beere, one of the sellers said:
“The Beere family built Morton Michel from scratch into a market leader. With the support and investment of the PIB Group and the fantastic people within the business this legacy is in safe hands.
“I would like to thank Abigail and her team for working so diligently on the deal with the PIB Group and providing clarity and confidence in a process which was unfamiliar to us. Abigail’s calm and collected approach instilled confidence and provided surety to get us through a complex legal process, cutting through the legalese and drawing to us the key points for us and our exit strategy.”
The other advisers to the shareholders of the Morton Michel Group were James Simpson of IMAS Corporate Finance and Malcolm Coomber and his team of Clarkson Hyde Accountants.
PIB Group was represented by Dickson Minto WS based in Edinburgh.