Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
Integro in advanced talks to acquire Tysers
- 5 October 2017
Private equity-backed broker Integro has entered exclusive takeover talks with London market independent intermediary Tysers, The Insurance Insider can reveal.
Banking sources told this publication that Integro had fought off competition from long-term suitor RFIB and US wholesale giant AmWins to secure exclusivity.
One banking source suggested that the purchase price was in the region of £120mn ($159mn). Tysers reported Ebitda of £10.6mn for calendar-year 2016, implying a trailing multiple of more than 11x.
The business will be priced off...
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