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 deal gives control of the business to a long-serving management team led by Andy Morley and Ian Laycock. It also allows founder Jon Whiteley to step down from the day-to-day management of the company, although Whiteley will continue to play a role in the business and retain a significant shareholding.
The buy-out was partially funded by deferred consideration on the part of Mr Whiteley.
ProAktive Risk Group was established in 2003 under its current name, though its origins date back to 1975. The business employs a team of over 50 members of staff and has a strong customer base.
Jonathan Craig, investment manager with Mercia Fund Managers, said: “ProAktive Risk Group’s business model demonstrates the company’s forward-thinking approach. By working with clients to identify potential business risks and improve training and internal systems, it can often help to reduce premiums and claims. The business has an exceptionally loyal client base and is well-placed to capitalise on the opportunities available in the market. This funding allows the founder of the company to hand over day-to-day control to the existing management team, while at the same time preserving the values of the business.”