Walker Morris advises Jigsaw Insurance on multi-million pound acquisition

Jigsaw is headquartered in Yorkshire and is primarily involved in the Motor, breakdown and pet segments of the UK personal lines of insurance. Its brands include Rescuemycar.com, NCI Insurance and 4Paws.

An agreement has been reached between PIB Group and the board of Directors of Jigsaw Insurance services. The terms are for a recommended cash offer to be made by the buyer for the entire share capital of Jigsaw.

Walker Morris’ John Hamer, Evelyn Lewzey, Nicola Parkinson, Natalie Grey and Andrew Northage acted for Jigsaw Insurance services on this case.

A statement from Jigsaw said: “The Jigsaw board has concluded that the offer represents the best strategic option for Jigsaw and its employees, and a strong outcome for all of the Jigsaw shareholders, by providing them with the ability to monetise their holding in full, in cash, at a premium to any price that has ever been previously paid for Jigsaw Shares, and at an attractive multiple of EBITDA.”

“It views the buyer as a company that fully understands Jigsaw’s markets, aims and culture and which can, therefore, provide appropriate support and development opportunities to the Jigsaw platform that will support its future growth.”

“The acquisition of Jigsaw is in line with the buyer’s expansion plan to build market leading positions in specialist insurance businesses. The acquisition will provide Jigsaw with access to the resources of the buyer’s group and enable Jigsaw’s own development to be enhanced by utilising and leveraging off the Buyer’s strong relationships with insurance carriers and existing product and service skills.”

How we can help with acquisitions and corporate matters

Walker Morris’ Corporate team specialises in advising on acquisitions in all aspects of corporate law. For further advice and information on acquisitions, please contact John Hamer or a member of our Corporate team.