Birketts advises leading travel insurance firm on sale to Private Equity House

19 January 2018

Top 100 law firm Birketts has advised AllClear Holdings Limited on its sale to Synova Capital for an undisclosed price. The deal sees Synova add to its insurance portfolio, which also includes its investment in Stackhouse Poland, the leading insurance broker.

AllClear Holdings Limited, trading as AllClear Travel Insurance, is based in Romford, Essex and is the leading provider in the UK of specialist medical travel insurance cover for individuals with pre-existing medical conditions. The firm also operates in the Republic of Ireland and Australia. Since inception, the business has provided cover to more than one million policy-holders.

Birketts advised on all legal matters acting for all of the shareholders, led by joint founders Mike Rutherford (Chairman) and Chris Wacey (CEO). The disposal was led by Adam Jones (Corporate Partner), with assistance from Alex Forwood (Corporate Solicitor) and John Kahn (Tax Senior Associate).

Mike Rutherford, Chairman at AllClear Insurance Services, commented: “Birketts’ Corporate Team has a clear understanding of the legal challenges and implications of operating in the insurance sector and their market knowledge showed. They have been invaluable in their advice and commercial experience in helping us to realise our long term ambition of ensuring that any exit was to the right buyer, on the right terms.”

Adam Jones said: “I am delighted that we have been able to assist Mike and the other shareholders in the sale of their company to Synova. This deal required thorough knowledge of our clients' business and their priorities, experience in the insurance sector, and a clear understanding of private equity structuring”.