TLT has advised ExamWorks UK, a leading provider of medical report and rehabilitation services, on a multi-million pound acquisition (subject to regulatory approval) of the Kindertons Group, a market leader in the accident management and mobility segment.
ExamWorks UK is part of the global ExamWorks family of companies, a market leading provider of independent medical examinations and related services in the USA, Canada, the UK and Australia, with global revenues of $1.2bn and 4,800 employees. It is backed by US private equity house Leonard Green & Partners.
Kindertons Accident Management is one of the largest, independent specialist credit hire providers in the UK, managing the full claims-handling process on behalf of insurers, insurance brokers, motor dealers, garages and body shops. It also provides replacement vehicles and managing the recovery, repair and storage of damaged vehicles. TLT supported ExamWorks UK on every aspect of the acquisition, leveraging its extensive corporate and financial services regulatory experience.
The TLT corporate team was led by partner Alice Gardner and included corporate partners John Wood and Stephen Devlin, regulatory partners Russell Kelsall and Jason Cropper who led the regulatory aspects of the transaction, tax legal director Mark Braude, corporate solicitor Luke Thorngate-Davies and corporate trainee solicitor Oliver Swain.
Donald Fowler, CEO of ExamWorks UK, says: “We are excited at the prospect of Kindertons becoming part of the ExamWorks family. The acquisition will create a group unlike any other in the range and scale of the services that we will provide, with 1,700 employees and annual revenues in excess of £300 million.
"There is clear synergy and shared vision between the two businesses and TLT has enabled us to capitalise on this with a successful deal. We are extremely grateful for their in-depth experience and sound advice at every stage of the transaction."
Alice Gardner, partner at TLT, says: "This is a significant deal in terms of the size and value of the businesses involved, which reflects the quality of the team and service we deliver to our clients and our experience in the financial services and insurance sectors.
"This transaction is a key development for ExamWorks diversifying its service offering to both existing and new clients in the insurance and legal sectors.”
On 12 October 2018, the FCA published a Guidance Consultation (GC 18/4) on the Senior Managers and Certification Regime on statements of responsibilities (SoRs) and responsibilities maps (which apply to enhanced firms).