Private equity firm Synova buys AllClear Travel Insurance owner

Adam Jones of Birketts.

Adam Jones of Birketts. - Credit: Archant

Regional law firm Birketts has advised the parent company of specialist travel insurance provider AllClear on its sale to private equity firm Synova Capital.

AllClear Holdings, trading as AllClear Travel Insurance, is based in Romford and is the leading provider in the UK of specialist travel insurance cover for individuals with pre-existing medical conditions, It also operates in the Republic of Ireland and Australia.

Birketts, which has offices in Ipswich, Chelmsford, Norwich and Cambridge, advised the shareholders, led by joint founders Mike Rutherford (chairman) and Chris Wacey (chief executive) on all legal matters

The Birketts team was led by Adam Jones (corporate partner), with assistance from Alex Forwood (corporate solicitor), Beth Baird (employment senior associate), Daniel Browne (property solicitor) and John Kahn (tax senior associate).

The value of the deal has not been disclosed.

Mike Rutherford said: “Birketts’ corporate team has a clear understanding of the legal challenges and implications of operating in the insurance sector and their market knowledge showed.

“They have been invaluable in their advice and commercial experience in helping us to realise our long term ambition of ensuring that any exit was to the right buyer, on the right terms.”

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Adam Jones added: “I am delighted that we have been able to assist Mike and the other shareholders in the sale of their company to Synova. This deal required thorough knowledge of our clients’ business and their priorities, experience in the insurance sector, and a clear understanding of private equity structuring.”