Submission Date: November 25, 2020
Completion Date: November 2, 2020
Deal Value: £5.5m
Deal Description: Spectrum Corporate Finance successfully advised Watchstone Group PLC, a UK-based provider of sector-leading expertise in software, consultancy and technology-enabled outsourcing, on the disposal of telematics-based car insurance brand Ingenie to A-Plan Group for £5.5m.
Spectrum was appointed to complete a full sales process which involved marketing the business to both trade buyers and private equity investors, prior to entering into exclusivity with A-Plan, who were acting through its related companies Endsleigh Insurance Services Limited and Trafalgar Bidco Limited. Ingenie has subsequently formed part of A-Plan Group’s Endsleigh operations.
Corporate Finance Advisers: Spectrum Corporate Finance (Simon Davies and Richard Boyden)
Legal Advisers: Dorseys: Dorsey (Mark Taylor)