Cripps advises iprism management team on buy-out
Cripps’ corporate team has advised the management team at iprism, a managing general agent (MGA) that specialises in commercial, property, tradesman and high net worth insurance, on the buy-out of the business.
iprism uses in-house technology to deliver a range of insurance products to UK brokers. It operates an innovative proprietary insurance brokerage platform, with support from a team of expert underwriters, to provide access to a range of specialist insurance products for commercial and private clients, all backed by a panel of UK-based rated insurers.
Led by managing director Ian Lloyd, the management team has acquired the business for an undisclosed consideration with the support of investment firm Triple Point.
The Cripps team, which was led by John Kirkwood and also included Katie Haylock, Tom Newlyn, Meg Harold and Megan Pitt, advised on all legal aspects of the transaction, including banking and corporate advice. David Ellis of Azets provided corporate finance advice.
Commenting on the legal support provided, Managing Director Ian Lloyd said “The Cripps team was fantastic throughout the whole process. Their knowledge, experience and responsiveness were highly appreciated and I look forward to working with John and the team as we continue to build the business”.