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Gresham invests GBP12.3m in the MBO of Lanes Assistance Services

Gresham, a UK mid market private equity firm, has completed an investment of GBP12.3m in Lanes Assistance Services.

The investment will buy-out existing shareholder Lanes Group plc and provides capital to develop LAS’ infrastructure and personnel to drive future growth.

Gresham provided 100 per cent of the funding.

With offices in Manchester and Birmingham, LAS provides an outsourced claims management service for the insurance industry. Its clients include a number of top UK insurers.

Andy Marsh, partner at Gresham, says: “We have been looking to invest again in this market for some time now. The key for us has been to identify a market leading business that delivers real and quantifiable cost savings for its insurer companies. Our work on LAS substantiated this. We are delighted to be supporting the management as they take the company to the next stage in its growth.”

The management buy-out is led by LAS managing director Darren Cooper and commercial director Tim Walker.

Cooper says: “Partnering with Gresham will ensure that we are well placed to maximise the wealth of opportunity which exists in the market. The investment will ensure that the high level of customer service LAS provides is maintained as volume increases and that future growth is managed in a controlled manner. It’s a very exciting time for us.”

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