Pedigree Livestock Insurance Ltd., the Nottingham-based insurer that has, over the past 25 years, established itself as specialist in pet cover, has been sold to another company in the city – IGI.
Having decided to concentrate on their core activity Pedigree Livestock’s owners instructed the Nottingham office of nationwide corporate finance advisers Clearwater Corporate Finance to identify an appropriate purchaser for the company.
After a research programme covering the entire country, the Clearwater Corporate Finance team identified the preferred purchaser as another insurer within the city, prompting pedigree’s Terry Brown to comment: “It is pleasing that a deal has been agreed that keeps the business in Nottingham and enables the staff to continue in employemnt without relocation.”
Kevin Horn, Finance Director of IGI, says: “Existing staff will transfer to us providing a valuable addition to our business, enhancing our pet insurance division considerably.”
Clearwater Corporate Finance’s team comprised Phil Burns and Karen Edwards while legal advice was provided by Robin Wright of Warren & Allen. David Tillock of freethcartwright advised IGI.