The business, which employs a team of more than 80 staff, was established in 2006 and is based in Bedford. IMS provides a range of tailored accident repair management services to major UK insurers which helps individuals and businesses progress their motor insurance claims.
Their bespoke and customer-centric process is built around a system called Incident 2 Resolution (I2R). I2R is designed to make the process of managing a vehicle which is moving through the insurance claim process as easy and efficient as possible. Services include: Repair Management; Total Loss Handling; supplier vetting, management and payment; and acting as liaison between insurer, customer and suppliers.
Andy and Louise will retain a minority shareholding in the company but cease their involvement in day-to-day operations as they wish to retire.
Commenting on the buyout, Simon Young said:
“Having been one of the founders of the business alongside Andy and Lou, I’m delighted to be leading the MBO along with my team. This secures the future and growth of the company, and we look forward to continuing to provide a high quality of service to our insurer customers, suppliers and vehicle owners”.
PEM Corporate Finance acted as lead advisers on the buyout. Lake Falconer said:
“We’re pleased to have helped Andy and Lou achieve their exit from the business through this succession buyout led by their longstanding colleague Simon. It’s a good example of how this type of collaborative deal can work well for all the stakeholders in a business”
Legal advice was provided by Adam Bradley and Lizzie Wilson of Taylor Vinters LLP.