Brokerbility and Brett & Randall acquired in MBO
Brokerbility and Brett & Randall, which is a founding member of the broker network, have been acquired in a management buyout.
The move follows the resignation of chief executive, Stuart Randall, who will be engaging with new ventures but will remain as advisor to both companies, for the next four or five years.
Mr Randall is selling his interests in the businesses to existing shareholders and management but in the case of Brett & Randall, the firm’s financial services unit is being acquired by its current directors, and will no longer form part of the Brokerbility group.
Commenting on his departure, Mr Randall said: “For a long time I have preached the mantra of management succession and it gives me great pleasure to have achieved that objective and allow others their opportunity.”
He will be replaced by Ashwin Mistry, an existing director of Brokerbility.
Category: Companies News, Insurance News
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