Jewel Bidco to acquire Charles Taylor

deal

And so it is that we witness the expansion of empires this week, as insurance services company Charles Taylor agrees to a £261-million acquisition offer from Jewel Bidco

Jewel Bidco, a company formed on behalf of funds advised by Lovell Minnick Partners LLC and its affiliates, has offered 315 pence per share in cash to take Charles Taylor, and in a statement to shareholders, Charles Taylor directors stated that the offer is ‘fair and reasonable’.

Edward Creasy, Chairman of Charles Taylor, said: “The Charles Taylor Board is confident in the quality and long-term prospects of the Charles Taylor group, but believes that this offer recognises these factors and represents a good opportunity for shareholders to realise value for their investment at an attractive premium.”

Group CEO of Charles Taylor David Marock further endorsed the takeover offer, noting that Lovell Minnick, ‘a highly regarded investor with experience in our markets’, would provide the company with the opportunity to continue to deliver on its existing growth strategy. Marock added: “As a private company with Lovell Minnick’s backing, I believe Charles Taylor will continue to capitalise on opportunities in its markets and ensure the future success of Charles Taylor for employees, partners and clients.”