PGD Strategy successfully completed the sale of the insurance broking business of professional indemnity insurance specialist Lloyd’s broker PYV to Howden Insurance Group, part of the Hyperion Insurance Group.

As part of the project, which was managed under severe time constraints due to pressing financial pressures facing PYV, PGD Strategy:

• Advised PYV on transaction structure, process and timing
• Assisted the management of PYV with the co-ordination and implementation of the transaction
• Provided guidance on valuation and related issues in connection with the transaction
• Worked with the management of PYV to obtain an understanding of the operations, financial condition, prospects and strengths and weaknesses of PYV as to enable us to establish how best to position/market the transaction

• Identified and agreed a comprehensive list of potential strategic and financial investors and agreed how they should best be approached
• Approached potential strategic investors on behalf of PYV and acted as a point of contact with them and their advisers; provided them with information as agreed; attended meetings and site visits as reasonably required; and assisted in negotiating, in conjunction with PYV’s s legal adviser, the terms and conditions of the offer made by Howden
• Assisted in the co-ordination of due diligence, including management presentations