Cripps Pemberton Greenish advises on the sale of the COBRA group of companies
Cripps Pemberton Greenish has advised longstanding client the COBRA group of companies (COBRA) on the sale of the business to PIB Group.
Established in 2003, COBRA comprises of COBRA Network Ltd, COBRA London Markets, COBRA Underwriting Agencies Ltd, and COBRA Insurance Brokers Ltd. The Group provides a wide range of insurance services for its network members, agents and clients through the four main operating platforms.
PIB Group is an insurance intermediary group providing specialist insurance solutions. The company has grown rapidly since its launch in 2015, following a series of acquisitions.
The Cripps Pemberton Greenish Corporate team advised COBRA on all aspects of this complex transaction. As COBRA was once a public company, it had several categories of shareholder (management, employees, individuals and nominee shareholders) which needed to be organised and managed, and in the case of some of the individuals, tracked down.
The Cripps Pemberton Greenish team was led by corporate partner James Beatton, assisted by Managing Associate, Katie Haylock and Legal Director, Lowri Jones.
COBRA’s CFO David Stanley, commented: “The team at Cripps Pemberton Greenish were able to find creative solutions to the technical legal challenges we faced. They worked closely with us to ensure the sale completed smoothly and on time.”
The COBRA businesses will continue to operate under their established trading brands and integrate into complementary divisions within PIB, along with their existing management teams.
This is the latest in a number of deals the firm’s corporate team has advised on. For more information see here.