06 Mar 2023
RPG Chartered Accountants advise in sale of the Reich Group
RPG Chartered Accountants have advised the shareholders of the Reich Group in their 100% share sale to Howdens. The deal value has not been disclosed.
Shareholders Simon Taylor and Danny Lopian were advised by RPG in their sale of the Reich Insurance Group, which is a leading independent insurance broker based in Manchester, to international insurance broker Howden Broking (insurance).
Jonathan Brownson and Ben Brownson led the RPG team.
Jonathan Brownson commented: “I am delighted that we were able to support Simon and Danny to ensure the outcome that they both wanted.
“RPG incorporating Crawfords have had a longstanding relationship with the Reich Group and so we are very pleased to have advised them to the conclusion of the business.”
RPG Chartered Accountants, amongst other things, provided transaction support, carried out financial and tax due diligence, and were lead adviser in the negotiations with the acquirer. RPG will also prepare and agree the completion accounts.
Simon Taylor, CEO of Reich commented:
“We recently needed assistance for the sale of Reich Group of companies to Howdens UK & Ireland.
“It was a major transaction and we needed real expertise from our accountants as our advisors.
“I would not hesitate to recommend the team of Ben and Jonathan Brownson at Royce Peeling Green, who were absolutely outstanding.
“They both, together, completely blew away my expectations. Their service was impeccable. They were available day and night, weekday and weekend, constantly from the beginning of the process right through to the end. Always on hand to give honest, clear and concise advice. Always very knowledgeable in every aspect of taxation law, and the deal.
“I honestly could not have wanted for better support than I got from the guys at RPG.
If you’re considering using a firm of accountants for your technical advice on a deal, or for your day-to-day accountancy services, in my opinion, they are the best and I was delighted to have their assistance throughout this process.
“I couldn’t have completed it without them,” concluded Simon Taylor.
The Reich Group comprises Reich Insurance Brokers, Reich Life and Reich Healthcare. It was founded in 1943 and has experienced significant growth over the past 20 years, becoming one of the largest independent brokers in the UK, placing over £118m of premiums annually. Simon Taylor and Danny Lopian will also stay actively involved in the business, with Simon continuing as Chief Executive Officer. The Howden Group places £6bn in Gross Written Premium (GWP) in the UK alone and has operations in 45 countries across the world.
The shareholders were also advised by BBS Law: Dov Black, Rebecca Mills, Amie Stevenson and Paul Stedman (legal).