Insurance and risk management consultancy ProAktive Risk Group has undergone a £2 million management buy-out backed by debt funding from Mercia Fund Managers.
Based in Doncaster and also operating an office in Sheffield, ProAktive Risk Group is a commercial insurance broker which also provides risk management advice to help businesses reduce their claims and premiums. Its consultancy services include HR, Health and Safety, business continuity planning and fleet risk management.
The concluded deal gives control of the business to a long-serving management team led by Andy Morley and Ian Laycock. It also allows the business’ founder Jon Whiteley to step down from the day-to-day management of the company, although it’s confirmed that Whiteley will continue to play a role in the business and retain a significant shareholding.
The buy-out deal was partially funded by deferred consideration on the part of Mr Whiteley.