Firms join forces to help secure deal
10th April, 2019
Two Shropshire companies have played key roles in an acquisition deal that has made a local firm one of the region’s largest independent insurance brokers.
Henshalls has announced the acquisition of Bayliss & Cooke, from Stafford, giving the broker the opportunity to extend its reach into a whole new area. Dyke Yaxley Chartered Accountants and legal advisers Aaron & Partners were responsible for the due diligence and documentation throughout the process.
Henshalls Managing Director Mark Freeman said: “We’re very pleased to have signed the contract with Bayliss & Cooke, and to have agreed a deal that is of mutual benefit to both firms. It’s particularly pleasing to have found the advice we needed on our very doorstep and to have been able to work with other local companies to complete the acquisition.
“The support from Dyke Yaxley and Aaron & Partners has been invaluable, and having such trusted advisers by our side throughout the deal gave us immense confidence. We would definitely not hesitate to partner with them again.”
Mark Bramall, for Dyke Yaxley, said: “We’re delighted to have been able to help secure this deal for Henshalls, and it’s the latest in a series of successful collaborative projects that we’ve worked on with Aaron & Partners. It’s another great example of Shropshire Chamber of Commerce members joining forces to deliver the very best service to local businesses.”
Hugh Strickland, a Partner in the Corporate Finance team at Aaron & Partners, said: “This is a significant deal for Shropshire, which makes Henshalls one of the region’s largest independent insurance brokers. It’s fantastic to see the deal agreed successfully and we’re pleased to have played a key role in this important acquisition alongside the team at Dyke Yaxley.
The Bayliss & Cooke brand will be retained across Staffordshire, with the firm’s 14 directors and employees continuing to operate from the Stafford office. As well as its head office in Newport, Henshalls also has an office in Shrewsbury.
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