Cavendish

Cavendish advises on Mavinwood transaction

Cavendish Corporate Finance LLP is pleased to announce the sale of ANSA Holdings Limited ("ANSA") and Independent Inspections Limited ("Independent") to a management buy out team backed by LDC for a consideration of up to £19.6m.

Cavendish advised Mavinwood plc, an AIM listed company, which owns ANSA and Independent. The sale is conditional upon Mavinwood plc shareholder approval.

ANSA and Independent are market leading providers of claims validation, management and fulfilment services on behalf of the UK's leading insurance companies such as Direct Line, Norwich Union, Legal & General and Zurich.

The sale of these businesses is part of Mavinwood's strategy to focus on developing its document handling business in the future.

Min Luk, the Cavendish partner who led the transaction, commented:
"We are delighted to have advised the Mavinwood team. Yet again, Cavendish has proved that it can close transactions in difficult market conditions."

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