Slaughter and May is advising Markerstudy on its acquisition of Lloyd’s broker Clegg Gifford & Co.

Markerstudy Group Limited, a portfolio company of Pollen Street Capital, has announced its acquisition of Clegg Gifford Holdings Limited, the parent company of Clegg Gifford & Co Limited.

Formed in 1968 as a general insurance broker, Clegg Gifford later evolved into a Lloyd’s of London broker. Today, Clegg Gifford provides a broad spectrum of both personal and commercial insurance products and is a well-known broker in the UK Insurance Industry, with a national clientele and a heritage in the motor trade. Recently crowned ‘Independent broker of the year’ at the Insurance Times Awards, the deal will see one of the UK’s largest family-owned independent brokers join Markerstudy, a digitally-led insurance group which currently manages £1.2bn GWP and provides specialist and mainstream insurance products to three million customers.

Slaughter and May is also advising on the debt and equity financing aspects of the acquisition of Clegg Gifford and its unrelated purchase of BGL Insurance. Unitranche debt facilities for the transactions were arranged, and are to be provided by, CVC Credit. The firm is working closely with teams led by Pollen Street Capital partner, Michael England, and Markerstudy’s General Counsel, Chris Payne.