Deal Summary
Malyon Lestrange
| client: |
Malyon Lestrange |
| sector: |
Insurance |
| description: |
Construction industry specialist
insurance broker |
| deal type: |
Buy-in |
| deal size: |
Undisclosed |
| investor: |
Oval Group |
| date: |
March 2006 |
Company background
Malyon Lestrange was formed in the 1970s by Brian Malyon and Steve Lestrange, who have been friends
since their schooldays. The business has achieved sustained growth and enjoys an excellent reputation
within the construction insurance market. An insurance broker specialising in the construction sector,
Malyon Lestrange services include tailored products for corporate and individual clients covering contract cover,
tool and equipment hire and asset finance. They expect to play an important role in their clients’ work
for major infrastructure projects, including the construction of the Olympic sites ready for 2012.
Deal background
Oval was formed in October 2003, when Caledonia Investments invested
in RP Hodson, the Yorkshire insurance broker headed by Phillip Hodson.
Oval has now acquired 10 companies and has recently secured bank
finance of £53 million to fund further acquisitions.
Commenting on the sale, Steve Lestrange of Malyon Lestrange says:
“We were very satisfied with the professional
way in which Alaris dealt with the whole process”
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