Abstract:
Charterhouse Capital announced an acquisition deal on 3rd March, 2008. Through this announcement, the Charterhouse Capital made it clear that it was going to acquire Giles, a leading insurance brokerage firm of UK.
Charterhouse Capital Business Deal refers to the business deals made by Charterhouse Capital.
Here, we will discuss about the most recent business deal of Charterhouse Capital Partners.
On 3rd March, 2008, Charterhouse Capital announced that it was going to acquire Giles, the leading insurance brokerage firm of UK.
Profile of Giles
Giles is an insurance brokerage firm which mainly provides commercial insurance cover for motor trade industry, construction industry, recruitment industry and for charity organizations. Giles operates through a wide network, which is spread over the entire UK. The headquarters of Giles is situated in Scotland.
Giles climbed the growth ladder by adopting an acquisition-led growth strategy, under the supervision of Chris Giles, Head of the Management Team. Through this aggressive growth strategy, Giles made 17 acquisitions in a short period of 17 months. These acquisitions brought positive results and Giles' turnover tripled in this period of acquisition.
The Deal
The acquisition deal took place between Charterhouse Capital and Giles as Charterhouse Capital recognized tremendous growth potential of Giles. This acquisition deal was also supported by Gresham, the private equity firm of UK.
It should be mentioned here, that through this acquisition deal, Gresham, who was an equity holder of Giles got out of Giles by selling their business to Charterhouse Capital. Gresham helped Giles in expanding Giles' regional network.
In the acquisition deal, it has been decided, that even after acquisition, the Management Team of Giles will remain with the company. Chris Giles will continue to lead the management team, even after completion of the acquisition deal.